The British New Age (African Global Energy) is looking to farm â out up to 50% of its 100% stake in the Ethiopian Adigala and Block 8 blocks. The company has launched the partnership offered through the advisory Moyes & Co., to promote "high-impact appraisal and exploration opportunities" in both blocks (see contacts below).   Block 8   Block 8 is located in central Somali Basin (Ogaden Basin), at the border between Ethiopia and Kenya and about 300 km southwest from Poly-GCL's gas fields. The block covers a surface of approximately 11.000 sq km and lies between Poly GCL operated Block 03, Block 04 and Block 12.   Block 8 hosts the El Kuran 3 oil and gas field, drilled by New Age in 2014, after Tenneco Oil Company encountered oil and gas shows at the El Kuran 1 and 2 wells in 1972. Contingent resources are estimated at 141 MMbbl of liquids and 833 Bscf of gas, according to D&M's 2014 CPR.   New Age is considering several options to develop the field, including acid fracture stimulation. Expected simulated production rates are estimated to be approximately 20 MMscfg/d per well. New age also considers several commercialization options such as the construction of a small gas to liquid (GTL) plant for local market consumption, a gas to LNG option taking advantage Poly CGL's planned pipeline to Djibouti, gas to hydroelectric power, and gas for a fertilizer plant at Dire Dawa.   Proven reservoirs in Block 8 include the Jurassic Hamanlei carbonate Formation with a porosity of up to 15% and the and the Lower Jurassic Adigrat sandstones, which is the reservoir of Poly CGL's gas fields.   New Age has also mapped a significant structure directly east of El Kuran, and several other leads have been identified on the El Kuran trend.   Adigala block  The Adigala block covers a less explored area of approximately 20,000 sq km located in northern Ethiopia, in the border with Somalia.   Following the interpretation of the geological and seismic data acquired by New Age, the company reached the conclusion that it exists a working oil petroleum system in the block, which could be the continuation of the Yemen Rift Basin across the Gulf of Aden. New Age located the Northern Lead (see Edin) to be drilled in the north of the block. As of June 2020, mean volumetric STOIIP was reported to be 1,115 MMbbl (Cretaceous 576 MMbbl, Jurassic 539 MMbbl).The trap consists of a fault up-dip of the basin and is clearly identified in the seismic images.   In January 2020, the Government of Ethiopia and New Age reached an agreement on a new PPSA and relinquished part of the block. The PPSA includes a 3.5-year period with seismic reprocessing and stratigraphic boreholes as commitments, with a minimum spend of USD 5.6 million.   For more information, contact the editor or Moyes & Co at the following address:  Ian Cross (Managing Director)  icross@moyesco.com  +65 9776 0753
Ethiopia (Afar B.) Adigala op. by NEW AGE (100%), The British New Age (African Global Energy) is looking to farm â out up to 50% of its 100% stake in the Ethiopian Adigala and Block 8 blocks. The company has launched the partnership offered through the advisory Moyes & Co., to promote "high-impact appraisal and exploration opportunities" in both blocks