Source: Pancontinental Energy
Pancontinental Energy has further highlighted the potential of its PEL 87 project in the high-profile Orange Basin, offshore Namibia. A new basin modelling study has identified that the Kudu shale formation, widely recognised as the primary source of hydrocarbons for the major light oil discoveries to the south of PEL 87, is located in the permit. The company conducted the study to analyse the formation and structural evolution of the Orange Basin within the vicinity of PEL 87 and to reconstruct the geological/thermal history to predict areas of hydrocarbon generation, migration and accumulation.
Seismic Data Assessment The assessment also included PEL 87 3D seismic volume and regional 2D seismic data to provide coverage across the greater PEL 87 area. Pancontinental hired an expert quantitative interpretation specialist to examine the amplitude variation with offset (AVO) anomalies observed within the PEL 87 3D seismic data and to investigate the rock physics from available regional well data to generate seismic AVO inversion data. Analysis of the 3D seismic indicated consistent Class II AVO responses in both upper and lower sequences within the large Saturn Complex target intervals and synthetic modelling of those intervals indicates possible hydrocarbon effects evident in the seismic data.
Saturn Complex Target The company estimates the mature area directly beneath the Saturn Complex has generated approximately 20 billion barrels of oil, sufficient to charge the full Saturn prospect/lead inventory up to the high case. It also believes a gas kitchen situated to the northeast of the Saturn Complex has the potential to contribute gas to the petroleum system.
“Pancontinental Energy Chief Executive Officer, Iain Smith commented “We are pleased to have
progressed these two key studies, which confirm that the Saturn Complex is particularly well placed to
receive oil charge into reservoir systems that exhibit potential for high net-to-gross sandstone units and
good indications for the presence of hydrocarbons. Additional QI screening studies are being
progressed, as are revisions to Pancontinental’s estimates of prospective resources and geological
risking, targeting late July.”
Pancontinental is looking to attract potential farm-in partners after Woodside Energy elected to pull-out of the permit in March.
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Author: admin
Managing the Namibia Oil and Gas Platform