DRILLING

Key, Bounty eye second Tanzanian well

TANZANIAN partners Key Petroleum and Bounty Oil & Gas are moving on with their exploration program, reporting the Kiliwani North-1 exploration well is due to spud by the end of this month.

Key, Bounty eye second Tanzanian well

Key said on Friday the rig was being mobilised to Songo Songo Island via a new causeway now that it had finished plugging and abandoning the failed Kiliwani-1 well.

A drilling pad has already been prepared and relocation and preparation for drilling are expected to take about 12 days.

Kiliwani North-1 will test a both the Songo Songo Gas Field reservoir system and a shallower Tertiary structure.

“A positive result at Kiliwani North-1 will open up a new oil play that has potential impact throughout the Nyuni Block and the surrounding area,” Key said.

Operator of the two-well program is Ndovu Resources, with a 39% stake, while Key holds a 20% stake and Bounty has 6%.

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