Africa Oil Corp. Provides Namibia And Nigeria Operational Update

London, 12 February 2024, (Oilandgaspress): –Africa Oil Corp. notes the statements made by TotalEnergies, the operator of Block 2913B offshore Namibia, in their 2023 Results Presentation, delivered yesterday, regarding the ongoing exploration and appraisal activities on Block 2913B. Africa Oil has an interest in this block through its 31.1% shareholding in Impact Oil & Gas Limited (“Impact”).
Mangetti-1X exploration well has intersected hydrocarbon-bearing intervals in the Mangetti fan prospect, a separate system to the Venus oil discovery. Mangetti-1X also achieved its secondary objective of successfully intersecting and appraising the northern area of the Venus accumulation. Mangetti has the potential to add additional recoverable resources on Block 2913B, and the joint venture partners are working to determine the next step in the evaluation process.

The acquisition of 3D seismic in the southern area of Block 2913B, is progressing with the aim of evaluating additional drilling targets.

The Company also notes the press release by TotalEnergies, operator of PML 2 that covers the Akpo field, offshore Nigeria, announcing the start-up of production from Akpo West.

Located 135 kilometers off the coast, Akpo West is tied back to the existing Akpo Floating Production Storage and Offloading (“FPSO”) facility, which started-up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023. By mid-2024, Akpo West will add 14,000 barrels of condensate production per day, to be followed by up to 4 million cubic meters of gas per day by 2028. Africa Oil has an interest in PML 2 through its 50% ownership in Prime Oil & Gas Coöperatief U.A, which has a 16% interest in PML 2.

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