Africa Oil Corp. Shares Exploration Results in Equatorial Guinea’s EG-18 Field at African Energy Week (AEW) 2024

Africa Oil Corp has revealed encouraging exploration results from the EG-18 field in Equatorial Guinea. Chris Johnston, Senior Geoscientist at Africa Oil Corp., presented these findings during a technical workshop at Africa Energy Week: Invest in African Energies 2024. 

Highlighting their recent efforts, Johnston explained that the EG-18 field, which Africa Oil operates with an 80% interest, has demonstrated strong reservoir quality. The EG-18 field is part of Africa Oil Corp’s strategic offshore exploration in Equatorial Guinea, a region historically rich in hydrocarbons but with limited offshore oil discoveries. “Our main prospect, Jasper, appears highly prospective, with indicators suggesting the presence of oil,” Johnston stated. 

Africa Oil Corp’s exploration campaign includes analyzing basin floor fan prospects of the Cretaceous age. These formations are akin to successful structures the company has explored in Namibia and South Africa. “From our data, we’ve identified seismic anomalies and Amplitude Versus Offset responses that increase our confidence in a working hydrocarbon system,” Johnston elaborated, referencing findings from the recent Jaca-1 well, which indicate oil presence. 

Additionally, Johnston emphasized the potential of EG-18 to become a major new hydrocarbon province, akin to the prolific Orange Basin. “The correlation to nearby L2 well data and Direct Hydrocarbon Indicators further supports our belief in the area’s potential,” he said. 

In Block EG-31, Africa Oil has also identified promising gas-prone prospects, such as the shallow-water Whistler prospect in the Alba fields. Studies, including rock physics analysis, have confirmed gas potential. 

Distributed by APO Group on behalf of African Energy Chamber.