Noble finds both condensate, natural gas on prospect offshore Guinea

Texas-based Noble Energy discovered both condensate and natural gas on its Block O prospect offshore Equatorial Guinea, but appraisal work will be required to gauge the field’s size, the company said Oct. 18.

Noble said its O-1 exploration well, located in 250 feet of water about 20 miles east of Bioko Island, flow tested at 1,225 barrels of “gas-rich” condensate and 24 million cubic feet of natural gas per day. The well was drilled to a total depth of 10,360 feet.

“Test results were encouraging,” the company said, noting that flow rates were limited by test equipment. “With the installation of cooling and processing facilities, condensate yields can be increased.”

However, additional appraisal work will be performed to determine the aerial extent and commerciality of the discovery, Noble said. The company said it was reviewing options for a multi-well exploration and appraisal program, which could begin in 2006.

Noble operates Block O with a 45 percent participating interest. Its partners in the venture are GEPetrol, the national oil company of the Republic of Equatorial Guinea, with a 30 percent participating interest, and Glencore Exploration Ltd., with a 25 percent participating interest.

—Ray Tyson