Mandji Energy Gabon is dedicated to developing marginal discoveries that were never pursued or redeveloping marginal oil fields that have been shut in for their lack of commerciality or have not been receiving the attention they deserve to their marginality. The strength of MEG relies in its professional staff that is able to look at these opportunities with a new eye and a new low cost approach that make feasible considering profitably extracting further reserves from fields struggling to be economical under their current mode of operations. Marginal fields considered for redevelopment offer a wealth of information. When considering such a marginal field opportunity, MEG takes an integrated approach, reviewing the geophysical information, the geological model, the production history, the exploitation mechanism, and the surface facilities. Many examples today of marginal field developments show the success of using new technology that did not exist when the fields were developed. Local expertise, new technology and ideas, and a low-cost approach are key components in the approach that MEG takes to find missed, bypassed, or forgotten crude oil reserves.

Mandji Energy Gabon systematically reviews each aspect of the fields it is considering for redevelopment, to ensure it is indeed acquiring a property with still a significant upside, displaying very specific criteria that make the field within the reach of an autochthonous company such as MEG. MEG operates within the constraints it sets for each opportunity, such as the time that will be needed to reach first oil and the amount of capital that will be needed and that can reasonably be raised on the international capital markets.

Mandji Energy Gabon relies on its highly technical staff that has a lengthy experience in Gabon on a variety of oil fields and has a comprehensive field evaluation procedure that checks key parameters (achievable oil production rate, remaining oil reserves to be produced, readily available oil production and delivery facilities, current macro economic environment, risks, etc.) to assess the opportunity and devise a re-development plan that can withstand adversity. A number of technical approaches are in particular used to assess the reasonable remaining oil reserves to be produced and the alternatives to efficiently accelerate the production of these reserves.

While marginal oil fields do have a definite strength with their ability to quickly reach oil production, there are most often other opportunities as step outs in under-explored areas immediately adjacent to the produced areas. MEG’s approach is to carry out two activities simultaneously, pursue the existing producing area and evaluate possible field extensions that will lend themselves well to additional seismic acquisition, if deemed necessary, and appraisal drilling, with a high probability of success. The depicted image illustrates such a strategy, with an immediate increase in production achieved from readily available wells, and a subsequent further increase coming from a new well drilled in an untapped area.