New offshore discovery in Sierra Leone upgrades Repsol’s resources in Africa

A partnership joined by Repsol announced Tuesday it had made a new hydrocarbons discovery offshore Sierra Leone. The Jupiter-1 well was drilled in an area that already has produced successful results in 2009 and 2010, confirming the significant potential of this region in Africa.

Repsol owns a 25% stake in the consortium, while the operator Anadarko has a 55% participation and Tullow Oil 20%. They drilled the Jupiter-1 well in block SL-07B-11 to a total depth of 6,465 meters (21,212 feet) in 2,199 metres of water. The well encountered net pay of 30 meters. The partners plan to drill an appraisal well, Mercury-2, to evaluate existing resources and to determine their quality.

The Jupiter-1 find follows the discoveries in the area of the Venus B-1 well, drilled in 2009, and the Mercury-1 well, drilled in 2010. This is an area which, until now, has been largely unexplored and which is confirming its importance for the industry.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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