Panafrican Energy Services Group (PESG) recently achieved a significant milestone in its collaboration with Cameroon’s Société Nationale des Hydrocarbures (SNH), successfully completing the Technical and Financial Evaluation of the Coco Marine Discovery. This project, based in the Douala/Kribi-Campo Basin, highlights PESG’s growing reputation as a key player in Africa’s oil and gas industry, especially in complex re-evaluation projects.

Project Overview

Client: Société Nationale des Hydrocarbures (SNH)
Project: Technical and Financial Evaluation of Coco Marine Discovery
Location: Cameroon

Coco Marine, originally discovered by ConocoPhillips in the early 2000s, was deemed non-commercial at the time. However, with the evolving energy landscape, SNH sought to revisit the field, aiming to unlock new value from the prospect. PESG was brought on board to provide a comprehensive technical and financial assessment, re-evaluating the potential of the area and proposing development strategies that could lead to a profitable exploitation of the site.

The Scope of PESG’s Involvement

PESG’s role in the project was multifaceted. The company was tasked with:

• Reassessing the field’s potential: Using advanced seismic data and geological analysis, PESG revisited the initial discoveries made in the early 2000s to determine the current viability of the prospects. This included identifying new hydrocarbon reservoirs that could be explored further.
• Development scenarios: PESG presented multiple development strategies, ensuring that each scenario was optimized for profitability and cost-effectiveness. The company’s extensive expertise in field development and production optimization played a key role in providing SNH with actionable plans.
• Cost optimization: One of the key objectives was to extend the lifespan of the project while minimizing operational costs. PESG’s study included recommendations on how to maximize the extraction of resources at the lowest possible cost, which is critical in today’s competitive oil market.

Key Outcomes

The project resulted in several key outcomes that are expected to shape the future of the Coco Marine discovery:

• Enhanced development strategies: By proposing various field development scenarios, PESG provided SNH with multiple paths forward, increasing the likelihood of successful commercial exploitation of the field.
• Cost savings and project longevity: PESG’s solutions emphasized not only profitability but also the longevity of the field. Their recommendations are designed to extend the operational life of Coco Marine while optimizing resource extraction.
• Discovery of additional reservoirs: PESG’s reevaluation identified potential new hydrocarbon reserves in the area, providing an exciting opportunity for SNH to further explore and capitalize on these new findings.

The successful completion of this project demonstrates PESG’s ability to deliver high-value services that directly impact the success of oilfield projects in Africa. By combining technical expertise with a deep understanding of the local market, PESG continues to position itself as a trusted partner for national oil companies like SNH. As African oil markets grow, this collaboration between PESG and SNH serves as a model for how local expertise can unlock new opportunities in the energy sector.

Through partnerships like this, Panafrican Energy Services Group is paving the way for future growth and innovation in Africa’s oil and gas landscape.