Congo’s new oil well to help meet annual target level

2019-01-10 18:24:59

The Congo Republic has discovered a new oil field that would push the nation’s quota of oil production to its 2018 target level.

The Tilapia oil field in Kuilou, in the north of Pointe Noire, the economic capital of Congo Republic, has been found to have multiple new oil wells, announced the operator, Anglo African Oil & Gas.

It said the exploration revealed 44 meters of oil deposits, which exceeds the company’s expectations.

Subject to the results of the flow tests, the well could potentially give it a major breakthrough in terms of production and cash flow and would be an excellent start to the Tilapia field development program.

The company predicts that the TLP-101 well could produce up to 400 barrels of oil per day.

Following the commissioning of the Moho/north field in 2017, the production of the Tilapia 103 oil well, should thus enable Congo to meet the 350,000 barrels per day target set in 2018.

This will be a relief for the Congolese government’s coffers, which has been hard hit by the drop in oil prices on the world market.