Afren finds oil onshore Madagascar

Afren has confirmed the discovery of oil in two boreholes after completing drilling and coring operations on Block 1101 onshore Madagascar.

A total of four strategic locations on Block 1101, which measures some 11,200 sq km (2.8 million acres), were successfully drilled and cored to an aggregate depth of 2,000m (6,500ft) with approximately 1,760m (5,720ft) of core samples recovered.

Drilling at each of the locations successfully completed the respective technical objectives to assess specific aspects of the Block’s petroleum systems.

Two core holes were drilled to depths of 650m (2,112ft) and 500m (1,625ft) adjacent to the 1902 coal borehole (Ankaramy-1) which had reportedly encountered “hydrocarbon shows”.

Cores recovered from both locations indicated the presence of hydrocarbons and potentially good reservoir quality over multiple zones.

Early indications provide further evidence of at least three different source rocks working across the Block in Triassic, Jurassic and Cretaceous zones. Further detailed analysis of the cores will be undertaken in Q1 2015 to confirm the nature and extent of the hydrocarbons.

Interim chief executive Toby Hayward said: “We have made good progress on Block 1101 with encouraging results indicating the presence of oil over several zones. This underscores the high quality of our East African portfolio and we look forward to working with our partner (Oyster Oil and Gas Limited) to determine the nature and extent of the discovery.”