TVI Pacific has announced that Chinese National Petroleum Corporation International Ténéré (CNPCIT), Niger project operator, has started the drilling program at the Facai-1 exploration well. Under the terms of the contract, TVI Pacific has 20% interest in the well and this is 100% funded by CNPCIT.
The location of this Facai-1 well is in the Ténéré Block in Africa. The area of this Ténéré Block is 71,155 km2 and is situated in the northern part of the Termit Rift Basin. CNPCIT has been vigorously testing the current oil discoveries and drilling fresh exploration wells in the southern half of the basin with a goal to accomplish oil reserve volume threshold to validate an export pipeline.
Facai-1 well is situated 110 km north of the west Fachi-1 exploration well, which was drilled by CNPCIT-TG World Energy during 2007. When the company commenced to prepare for exploration work at Facai-1 drilling, the field operations were averted due to security issues.
The company will drill the well to approximately 3,700 m to examine the Cretaceous sandstones in an anticlinal trap. Seismic data investigation shows a hydrocarbon characteristic at the target reservoir zone. It is anticipated that the Facai-1 well will achieve a total depth in 60 to 90 days.
Source: http://www.tvipacific.com/