NAPENews Magazine June 2023 Edition

INDUSTRY NEWS
A REVIEW OF ACTIVITIES IN THE
NIGERIA OIL & GAS SPACE
COURTESY AFRICAN OIL + GAS REPORT
Chevron Hits a Motherlode in the Mediterranean
Invictus Energy is working ahead
preparing to kick off a two dimensional
(2D) seismic campaign at the Cabora
Bassa Project in May 2023
. "The campaign will be aimed at
maturing multiple leads (Mopane,
Musuma, Machabel and Mahogany)
along the proven play on trend to the
east of Mukuyu and additional leads
along the highly prospective Basin
Margin play (Mimosa and Mukwa),
These leads, previously identified on
reprocessed vintage seismic data, can
be converted to drillable prospects in the
course of the interpretation.
Invictus says that drilling of Mukuyu-2,
the first well in the Mukuyu appraisal
programme, remains in line with prior
guidance, with an anticipated spud date
early in the third quarter of 2023,
targeting multiple hydrocarbon (gascondensate
and potentially light oil)
bearing intervals encountered in the
Mukuyu-1/ST1 well in the Upper Angwa,
Pebbly Arkose and Post Dande
formations.
The appraisal well will also aim to test
the Post Dande horizon away from the
major east-west fault on the southern
flank and the deeper potential in the
remaining Upper Angwa formation,
which was not encountered in the
Mukuyu-1/ST1 campaign due to it being
thicker than predrill estimates, providing
further upside potential.
The Mukuyu-1/ST1 well encountered
gas pay to total depth, interpreted from
wireline logs and fluorescence in
multiple reservoirs throughout the
1,500-metre interval penetrated in the
Pebbly Arkose and Upper Angwa.
"The well design for Mukuyu-2 will
incorporate valuable experience gained
from the drilling of the successful
Mukuyu-1/ST1 exploration well to
improve drilling efficiency and lowering
operational risks", the company notes.
"The maintenance and upgrade
programme for Exalo's Rig 202 has
commenced and will be completed prior
to the rig move and spud of Mukuyu-2".
Abdulrazaq Retakes the Reins of WalterSmith Petroman
By Macson Obojemuinmoin, in Lagos
Addulrazaq Isa has returned to an executive role
at Waltersmith Petroman, the Nigerian E&P firm
he co-founded.
The former banker retreated into a Nonexecutive
Chairman role four years ago, as
Waltersmith appointed Chikwezie Nwosu as
Chief Executive Officer. Nwosu's appointment at
the time was meant to be part of Waltersmith's
n e x t p h a s e o f e v o l u t i o n . " w h e r e t h e
owner/founders no longer ran the company on a
hands on basis".
That evolution has apparently been disrupted and a new company structure has taken shape, in which Isa is the
President/Group Chief Executive Officer of the holding company, overseeing three subsidiaries, namely: Waltersmith E&P,
the upstream arm of the company; Waltersmith Refining and Petrochemical Limited and Waltersmith Industrial Park Ltd. The
last company is the "Landlord" of both the upstream and downstream properties as well as the burgeoning facility that will
provide a number of services including gas and power supply, refined petroleum products and other ancillary services, to its
tenants.
NAPENEWS JUNE 2023 48