Mobil Hits Large Gas Deposit in Akwa Ibom

Mobil Producing Nigeria Unlimited (MPN), a Joint Venture (JV) partner of the Nigerian National Petroleum Corporation (NNPC), has announced a rich gas condensate discovery in its operated Oil Mining License (OML) 104 located offshore Akwa Ibom State.

The Pegi-1 discovery well was drilled in 315 feet (96 metres) of water to a total depth of 11,407 feet (3,477 metres) beneath the Awawa Field and encountered 165 net feet (50.3 metres) of rich gas condensate.

“Analysis of recovered samples indicates an API gravity of approximately 41 degrees. Significant additional potential remains in untested deeper targets within the Pegi fault block as well as in adjacent fault blocks.
”This is another example of our commitment to the growth of the oil and gas industry in Nigeria,” the statement quoted Chairman and Managing Director of MPN, Mark R. Ward, as saying.

Nigeria has proven gas reserves of about 187 trillion cubic feet, which ranks it the world’s seventh largest gas reserves holder and indeed the largest in Africa.