Anglo African Oil & Gas (AAOG) said it plans to drill a third well on the Tilapia oil field in the Republic of Congo.
The project’s operations team has already identified a preferred rig contractor and AAOG expects to conclude negotiations by mid-August.
The rig is already in the Republic of Congo, in close vicinity to Pointe Noire, which reduces mobilisation costs.
Drilling is expected to take around 45 days.
The London-listed firm has also decided to use fishbones technology to stimulate and complete the Mengo horizon in the well.
Fishbones technology uses a large number of small diameter lateral jets or drills from the wellbore to penetrate the reservoir and stimulate production.
It is ideally suited to the tight formations that are experienced in the Mengo and is more cost-effective and controllable than the alternative of a one-off conventional frack.
AAOG Executive Chairman David Sefton said: “Significant planning has taken place on the new multi horizon well TLP 103.
“As a result of this planning, the team is even more convinced of the potential from Tilapia.”