The London-based independent oil and gas company Panoro Energy SA and its partner BW have announced the successful drilling of the DTM-3H well, located on the Turtle oil field.
Well drilling began in May and the work proceeded smoothly, on time and within budget. From an official source, the well was fully in line with the prognosis and pre-drilling objectives.
The DTM-3H well is horizontal in the Gamba reservoir, oil capital, and comes in a long section of oil-saturated sandstone, according to a Panoro statement that did not specify the size.
The next step will be the Northeast Hive Drilling (DRNEM-1) which is a four-lane, undrilled structure with targeted potential in the deeper Dentale formation. DRNEM-1 is located about 3.5 km northeast of the Ruche Field in water depths of 117m.
This discovery comes as Gabon is forced to reduce the spending spree of the state. Remember that Gabon has more than 50% of tax revenues and 80% of exports from the oil and gas industry.
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Panoro Energy Announces Successful DTM-3H Oil Well Drilling
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