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© 2014 Gaffney, Cline & Associates. All rights reserved. Terms and conditions of use: by accepting this document, the recipient agrees that the document together with all information included therein is the confidential and proprietary property of
Gaffney, Cline & Associates and includes valuable trade secrets and/or proprietary information of Gaffney, Cline & Associates (collectively "information"). Gaffney, Cline & Associates retains all rights under copyright laws and trade secret laws of the
United States of America and other countries. The recipient further agrees that the document may not be distributed, transmitted, copied or reproduced in whole or in part by any means, electronic, mechanical, or otherwise, without the express prior
written consent of Gaffney, Cline & Associates, and may not be used directly or indirectly in any way detrimental to Gaffney, Clines & Associates’ interest.
West Africa Pre-salt
Opportunities and Challenges
The Royal Institution 29th January, 2014
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Confidentiality and Disclaimer Statement
This document is confidential and has been prepared for the exclusive
use of the Client or parties named herein. It may not be distributed or
made available, in whole or in part, to any other company or person
without the prior knowledge and written consent of GCA. No person or
company other than those for whom it is intended may directly or
indirectly rely upon its contents. GCA is acting in an advisory capacity
only and, to the fullest extent permitted by law, disclaims all liability for
actions or losses derived from any actual or purported reliance on this
document (or any other statements or opinions of GCA) by the Client or
by any other person or entity.
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Introduction
▪ Where / What is the West African “Pre-salt”?
▪ How is it defined
– Geographic Area
– Stratigraphy
– Presence of Aptian Aged Salt
▪ Why the Interest?
– Brazil (recent pre-salt success)
– Recent discoveries in Angola / Gabon
▪ What is the potential?
– Have the early wells delivered?
– What lies ahead
▪ Conclusions
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Where is the West African “Pre-salt”?
▪ Gabon to Angola
▪ Onshore and Offshore
▪ Ultra-deepwater potential
~ 3500m water depth
▪ Exploration has occurred
in the “Pre-Salt” since the
1950’s
▪ Re-envigorated by recent
discoveries
▪ New interest following
discoveries in Brazilian
pre-salt
Source: Deloitte - Petroview
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Pre-Salt Creaming Curve
IHS data
CAMEIA-1
• c. 12 exploration wells yet to be drilled in the pre-salt in next 12-18 months? • Will add only a few new data points to the creaming curve. Can careful analysis
of the existing data provide insight into the most-likely outcomes
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What is the Pre-salt?
▪ “Pre-Salt” exploration has been on-going since the 1950’s
▪ First offshore “Pre-salt” discovery in 1964
▪ Recent interest due to Pre-salt success in Brazil
(conjugate margin to Angola and Gabon)
▪ Recent exploration has moved into deeper water
▪ Are the onshore and shallow-water an analogue for the
deep-water?
▪ What are the key drivers for success?
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Why the interest? • Can the Brazillian Pre-salt play be
repeated in West Africa? • What lessons can be transferred? • What mistakes could there be?
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South Atlantic Reconstructions
▪ Early Cretaceous (Valanginian)
▪ Evolution of the West African
Margin during rifting phase to end
of rift / start of drift and deposition
of evaporites (salt)
▪ Pre-rift shows Brazil adjacent to
Angola and Gabon
Heine et al. (2013)
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South Atlantic Reconstructions
▪ Shows evolution of the West
African Margin during rifting phase
to end of rift / start of drift and
deposition of evaporites (salt)
▪ Initial rifting leads to development
of rift basin with non-marine
deposition
▪ Marine sediments deposited in the
south Atlantic (south of Walvis
Ridge)
Heine et al. (2013)
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South Atlantic Reconstructions
▪ Shows evolution of the West
African Margin during rifting phase
to end of rift / start of drift and
deposition of evaporites (salt)
▪ South America and Africa have
rifted completely
▪ Start of “Sag Phase”
▪ Deposition north of Walvis Ridge
still non-marine – deposition of salt
Heine et al. (2013)
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West African Stratigraphy
Pre-salt
• Variation in stratigraphy along the West African Margin • Thickness, lithology and formations • Even greater variability from inboard to outboard?
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Pre-salt Palaeogeography
• Simple palaeogeography – similar facies on both Brazillian and West African margin • Interpretation constrained by onshore and shallow-water wells (inboard). • Wells from Brazil suggest that palaeogeographies are more complex and contain
lithologies not seen onshore / shallow-water (inboard – outboard variation). • Need to consider tectonic / subsidence history of the rift – what impact does this
have on the depositional setting, sediment type and burial history.
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Pre-salt geology
▪ Rift to sag basin due to opening of the South Atlantic in the
Cretaceous
▪ Margins of the basin(s) have been explored since the
1950’s
▪ How representative is the onshore / shallow-water
(inboard) of the basin when exploring the deep-water
(outboard)?
▪ Is the Brazillian Pre-salt a better analogy for deep-water
West Africa?
▪ Need to understand the evolution of the rift basin and
appreciate the temporal and spatial variations within the
sediment in the basin
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Seismic Cartoon
• Cartoon (based on seismic) to illustrate the deep-water geology
• Thinning continental crust from east to west
• Laterally variable Pre-salt thickness – no salt on oceanic crust
• Variable salt thickness / geometries – complex sub-salt seismic imaging
• Complex heatflow and thermal history – source rock maturation and hydrocarbon types
Top Basement?
Top Salt
Base Crust
Sea Bed
Top Aptian Base Salt
Top Miocene
West East
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Conceptual Model
Post-Salt
Oceanic
Crust
Continental Crust
Syn-Rift
Syn-Rift
“Sag” Phase
1. Variable Rift Timing
2. Subsidence History
3. Sedimentary succession
4. Reservoir + Source + Seal
5. Temperature / Thermal history
6. Timing of hydrocarbon generation
7. Oil v Gas
The variable subsidence and thermal history generate a complex petroleum
system across the margin
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Shallow-water Angola Mafumeira Sul
Mafumeira Sul
Source: Deloitte - Petroview
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Mafumeira Sul (Block 0)
▪ New seismic survey to define Pre-salt geometry
▪ Pre-salt development – Start-up in 2015
– 5 new platforms
– 2 wellhead platforms (water depth 60 m)
▪ 50 wells
– 34 producers
– 16 injectors
▪ 110,000 bopd + 10,000 bbls/d LPG
▪ Re-invigorates the local area – inboard - limited regional impact?
▪ Different play-segment to the recent deep-water (outboard) discoveries, only limited transfer of play elements and de-risking of the play?
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Deepwater Angola – Pre-salt wells
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FRANCEFRANCEFRANCEFRANCEFRANCEFRANCEFRANCEFRANCEFRANCE
KIRIBATIKIRIBATIKIRIBATIKIRIBATIKIRIBATIKIRIBATIKIRIBATIKIRIBATIKIRIBATI
KON 05KON 05KON 05KON 05KON 05KON 05KON 05KON 05KON 05
KON 14KON 14KON 14KON 14KON 14KON 14KON 14KON 14KON 14
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KON 17KON 17KON 17KON 17KON 17KON 17KON 17KON 17KON 17KON 16KON 16KON 16KON 16KON 16KON 16KON 16KON 16KON 16
KON 13KON 13KON 13KON 13KON 13KON 13KON 13KON 13KON 13KON 12KON 12KON 12KON 12KON 12KON 12KON 12KON 12KON 12
KON 09KON 09KON 09KON 09KON 09KON 09KON 09KON 09KON 09
KON 07KON 07KON 07KON 07KON 07KON 07KON 07KON 07KON 07
KON 19KON 19KON 19KON 19KON 19KON 19KON 19KON 19KON 19 KON 20KON 20KON 20KON 20KON 20KON 20KON 20KON 20KON 20
KON 10KON 10KON 10KON 10KON 10KON 10KON 10KON 10KON 10
KON 18KON 18KON 18KON 18KON 18KON 18KON 18KON 18KON 18
KON 22KON 22KON 22KON 22KON 22KON 22KON 22KON 22KON 22
KON 06KON 06KON 06KON 06KON 06KON 06KON 06KON 06KON 06
KON 08KON 08KON 08KON 08KON 08KON 08KON 08KON 08KON 08
KON 11KON 11KON 11KON 11KON 11KON 11KON 11KON 11KON 11
KON 04KON 04KON 04KON 04KON 04KON 04KON 04KON 04KON 04
ULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NWULTRADEEP-NW
KON 23KON 23KON 23KON 23KON 23KON 23KON 23KON 23KON 23
KON 21KON 21KON 21KON 21KON 21KON 21KON 21KON 21KON 21
KON 15KON 15KON 15KON 15KON 15KON 15KON 15KON 15KON 15
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CAMEIA-1 (2011)
360m gross interval
5,010 bbls/d of 44 API oil
AZUL-1 (2011)
Tested oil with mini-DST
Potential for 3,000 bopd
BUCIAR-1 (2013)
56 m of net oil and
condensate pay
CAMEIA-2 (2012)
Tested deeper interval – no
hydrocarbons to surface
LONTRA-1 (2013)
75 m net pay 2,500 bbls/d
condensate + 39 MMcfgd
MAVINGA-1 (2013)
30 m net pay
DENDEN-1 (1983)
Pre-salt test
25 API oil in Chela Sdst OGANGA-1 (2012)
Pre-salt test in Benguala Basin (Block 26)
Write-off – CO2 gas w/ hydrocarbons Source: Deloitte - Petroview
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Pre-salt Deepwater
▪ Analogous to Brazil Deep-water (outboard) play?
▪ Successful demonstration of play – Some tests encouraging
– Gassy – Oil, Condensate and Gas on test
– Well rates and costs critical issue
▪ Onshore may not be appropriate analogy for outboard area – rapid changes from inboard to outboard?
▪ Further drilling planned 2014 – 15 to further delineate the play and assess the hydrocarbon potential
▪ Play is complex with issues of reservoir quality and extent, hydrocarbon type and pool size
▪ Detailed analysis and careful assessment is required to define the play and understand its potential
▪ Need to ensure that the play elements are thoroughly understood and that lessons learnt are correctly applied
▪ TRANSFER OF CONCEPT IS NOT A DONE DEAL!
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