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British Afren finds ‘no oil’ at Keta block well offshore Ghana

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British-based oil firm Afren Plc failed to find oil at its Nunya-1x exploration well in the Keta block offshore Ghana, the company confirmed in a statement April 25, 2012.

Even though the well encountered thick and high quality water bearing reservoirs, Afren described the well result as “disappointing”.

“Whilst the Nunya-1x exploration well result is disappointing, it was the first well to test the Upper Cretaceous play on the Keta block,” said Afren’s Chief Executive Osman Shahenshah.

The well intersected 153 metres of very good quality sandstone reservoirs, however, they were interpreted as water bearing, the company indicated.

The company stated it will use the well data to calibrate and further enhance its “understanding of this under-explored block in what still remains a very high potential basin”.

Meanwhile, a Reuters news report says shares in Afren has lost more than 6%, making it the biggest loser on Britain’s mid-cap index, after the exploration well drilled on the Keta block off the coast of Ghana failed to find oil.

Afren has a 35% carried interest in the Keta Block and is partnered by operator Eni (35% ), Mitsui (20%) and GNPC (10%).

By Ekow Quandzie

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One comment

  1. the one God gave to us at western region others are benefiting now we ghanaians. i mean how can you produce oil in your country and still increase fuel and import oil. it means the very purpose for which it was given we have failed to use it. when we amend our ways God will open the eyes of the oil in the volta region