Africa Oil Corporation has revealed that it has launched drilling operations on the Sabisa-1 well in the South Omo Block in Ethiopia
The company has said that the drilling will take approximately 60 days to reach the planned total depth of 2,600 metres.
Africa Oil has a 30 per cent working interest in the block, with Tullow having a 50 per cent interest and Agriterra Limited holding the remaining 20 per cent interest. Marathon Oil Ethiopia BV has, however, announced a transaction to purchase Agriterra’s interest in the South Omo Block.
The South Omo Block is located in the northern portion of the Tertiary East African Rift, where Africa Oil and its partner organisation, Tullow, have made two significant discoveries in the Lokichar Basin of Kenya.
The Sabisa well has similar structural features as the two discoveries in Kenya.
Africa Oil president Keith Hill said, “This is an exciting well which has the potential to de-risk a large portion of our current portfolio of prospects. With the exploration campaign planned with our partners, Tullow and Marathon, in 2013, we will have the opportunity to change the profile of the company in the coming year. With our recent financing completed, we are well situated to execute exploration campaigns in East Africa.”
