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6/13/2011 - NOBLE ACQUIRES STAKE IN AGC PROFOND BLOCK |
| Noble Energy, Inc. has joined a venture that is exploring the AGC Profond block located offshore Senegal and Guinea-Bissau in West Africa. The AGC Profond block, covering more than two million gross acres in water depths up to 11,500 ft., is in a designated cooperation area between the two countries. The venture has identified a number of prospects and leads on the acreage. Approximately 45% of the block is covered by existing 3D seismic.
The first target to be drilled is the Kora prospect in the northern part of the block, nearly 65 miles offshore in approximately 8,600 FSW (2,622 MSW). The Kora prospect has a Cretaceous oil target with gross resources estimated at 450 MMboe. The chance of success at the prospect is estimated by Noble Energy to be 20%. Total well depth is planned to be approximately 15,200 ft. Drilling is anticipated to begin in late June 2011 utilizing the MAERSK DELIVERER, with results expected by the end of August 2011.
Ophir AGC Profond Ld. (Ophir) will operate the Kora-1 exploration well and, in the event of a discovery, Noble Energy will become the operator for appraisal and development activities. Noble Energy has a 30% working interest. Other interest owners are Ophir with 36.7%, Rocksource AGC Profond AS with 12.5%, and FAR Ltd. with 8.8%. The remaining interest is held by L’Entreprise, the AGC state-owned entity, with 12%. |
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