Bell (Perenco)

Project Overview: Perenco's Offshore Democratic Republic of Congo (DRC) Project

Location

The project is located offshore the Democratic Republic of Congo (DRC), specifically in the DRC coastal basin.

Operator

The project is operated by Perenco's DRC subsidiary, Muanda International Oil Company (MIOC).

Discovery and Exploration

In 2024, Perenco announced an oil discovery offshore the DRC, marking the first exploration success in the region in almost three decades. The discovery was made through the Moke-East well, situated between the Lukami and Motoba fields, which revealed a 24ft net oil-bearing column.

Drilling Operations

• Two exploration wells were drilled using the Nuada self-elevated class 82 SD-C jack-up drilling rig. The second well, LUKS-A, was deemed unviable due to insufficient hydrocarbon potential and has been plugged and abandoned.
• Following the discovery, the Nuada rig has commenced drilling the first of 12 wells in the GCO field as part of MIOC’s development drilling campaign offshore DRC.

Production and Development

• Plans are underway to test and complete the Moke-East well in the upcoming weeks.
• The development drilling campaign at the GCO field is aimed at tapping into additional resources, with operations set to proceed concurrently with the CS02 Workover unit at the same site.

Infrastructure and Operations

• The project involves the use of advanced drilling rigs and workover units to ensure safe and successful operations.
• Perenco has emphasized the importance of preparatory work to ensure the safety and success of the operations.

Commitments and Impact

• Perenco is committed to responsible operations, focusing on safety, social, and environmental impact. The company aims to limit its environmental footprint and support local communities through various corporate social responsibility (CSR) initiatives.
• As the DRC’s only international oil and gas producer, Perenco is investing significantly in the discovery of new resources and contributing to the development of the host country.

Recent Developments

• Earlier in 2024, Perenco solidified its presence in the DRC by completing the acquisition of stakes in several non-core oil permits from Eni for $300 million.

Other Relevant Projects by Perenco

While the above focuses on the DRC project, here are some other notable projects and activities by Perenco:

Block 67, Peru

• Perenco holds a 100% interest in the licence contract for Block 67 in the Maranon Basin. The development plan includes drilling over 170 wells from 10 platforms and constructing central processing facilities and local pipelines.

Belize

• Perenco holds a 100% interest in Block A, located in the Corozal Basin. The permit covers an area of 2,388 square kilometres and is an extension of the producing North Peten Basin in Guatemala.

North Sea

• Perenco has been involved in several projects in the North Sea, including the acquisition of BP's offshore Southern North Sea gas assets and recent recompletion activities at the West Sole Charlie platform.

Gabon

• Perenco is involved in the Hylia South West project offshore Gabon, where it has started producing oil from the Hylia South West accumulation.

Corporate Context

• Founding and History: Perenco was founded by Hubert Perrodo in 1992, with a focus on mature and marginal oil fields. The company has since grown under the leadership of his son, François Perrodo.
• Global Operations: Perenco operates in 16 countries, with over 6,000 employees, and is involved in both onshore and offshore operations. The company has a gross production of approximately 500,000 barrels of oil equivalent per day.
• Commitments and Values: Perenco emphasizes responsibility, excellence, and passion in its operations. The company is committed to sustainability, community development, and environmental respect.