Bakassi: Dana Petroleum to drill two wells

Dana Petroleum will drill two wells in the Bakassi area in April 2016, according to the SNH.

The Scottish company, Dana Petroleum, will be drilling in April 2016, two exploration wells on the Bakassi West block, covering 387.5 km2 in the Rio del Rey basin.

The information was revealed by the National Hydrocarbons Corporation, the secular arm of the State of Cameroon in the oil sector.

These two holes, we learn, were part of the exploration program led by Dana Petroleum consortium on this block.

After signing in June 2012 with the State of Cameroon's Bakassi West contract, the Scottish oil and gas operator and its partners were given an initial period of 4 years for the acquisition, processing and interpretation of data to be collected over an area of 250 km², and drill two exploration wells, one firm and one optional.

According to the contract signed with the SNH, based on the results obtained in this first period, the program activities will extend over two additional periods of two years each, during which it is expected to include acquisition and processing 100 Km2 of 2D seismic and drilling, at least, one exploration wells per period.

The minimum investment total for the three periods lasting for a total of eight years amounts to FCFA 71 million, or about 37 billion CFA francs.

Dana Petroleum is the leader of the consortium, Dana Petroleum Cameroon Limited / Madison Cameroon Oil & Gas Ltd / Softrock Oil & Gas Limited, which in June 2012 signed the first oil contract in Cameroon's Bakassi Peninsula,