E&P
Exploration & Production
More than 200 MMBLS STOIIP, with potential conservative recoverable reserves of at least 65 MMBLS UR.
Four additional prospects and deeper targets within the drilled structure offer substantial opportunities for further discoveries.
Four additional prospects and deeper targets within the drilled structure offer substantial opportunities for further discoveries.
AMOCON has undertaken several geological studies since 2007 in collaboration with international agencies to evaluate the potential of the block. Based on these studies, we conducted a 2D seismic survey in the southwestern region of the block. In 2014, a well-known agency was engaged to acquire 200 LKM of 2D seismic data. Additionally, around 60 LKM of full-stack seismic data was reprocessed and analysed.
AMOCON achieved its first discovery in the Asu River structure and successfully tested both wells. Reserve estimates for one of the five identified prospects, the Asu River structure, where the two wells were drilled, were carried out by renowned firms such as Gaffney Cline & Associates (GCA). GCA’s analysis estimates 70 BCF of 2P recoverable reserves in the Prospect-2 structure.
However, AMOCON’s internal estimates indicate over 160 BCF (2P) and 276 BCF (3P). Following this discovery, a Field Development Plan (FDP) was approved, and further drilling is expected to convert 3P reserves into 2P and increase production capacity.
Following the Asu River discovery, the Oil Prospecting License (OPL)-452 was upgraded to an Oil Mining Lease (OML)-156 in 2019. The 20-year block license allows AMOCON to continue development activities in the area.
More than 200 MMBLS STOIIP, with potential conservative recoverable reserves of at least 65 MMBLS UR.
Four additional prospects and deeper targets within the drilled structure offer substantial opportunities for further discoveries.
Over 1 TCF of potential gas reserves in unexplored prospects, with the Asu River discovery estimated to have 160 BCF GIIP.
With the current exploration focused on the other two identified prospects within OML-156, AMOCON has made significant progress. Detailed analysis of seismic, drilled wells, and offset data has paved the way for our second drilling campaign, expected to conclude by Q1 2025.
Two new locations, ASR-C1 and ASR-D1, have been selected to explore deeper targets and appraise shallow ones. Preparations are complete, including land acquisition, detailed engineering, vendor selection, and regulatory approvals.
We are excited to begin this next phase of exploration with our dedicated team of experts, confident in the potential of these new prospects.
