Formerly known as Benita, Aseng was originally discovered in 2007 as a gas-condensate field in Block I offshore Equatorial Guinea. Subsequently, two appraisal wells were drilled in the structure, with the first identifying the oil resources and the second determining downdip reservoir limits.

Noble Energy has said that the initial development of the field will include five subsea wells flowing to a floating production, storage, and offloading vessel (FPSO) where the production stream will be separated.

The FPSO, to be located in approximately 3,100ft of water, will be designed with capacity to handle 120,000 barrels of liquids per day, including 80,000 barrels of oil per day. In addition, the vessel will be capable of re-injecting 170 million cubic feet per day of natural gas. Storage on the vessel will be approximately 1.5 million barrels of oil and condensate.

Total cost of development, excluding the cost of the FPSO, which will be leased, is estimated at $1.3 billion. The majority of the capital is to be invested in 2010 and 2011. First production from the field is estimated to commence by mid-year 2012 at 50,000 barrels of oil per day gross.

Noble Energy has secured two rigs to support the development work at Aseng. The Atwood Hunter semi-submersible, which has been working for Noble Energy offshore Israel, is estimated to arrive in Equatorial Guinea for development activities in mid-2010. A letter of intent has been signed on a second rig, which is expected to be delivered to Noble Energy in the first quarter of 2010.

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