London-based explorer Sterling Energy started a 1250sq km 3D seismic survey on the Ambilobe Block, offshore Madagascar.
The acquisition is being undertaken by CGG Services, on behalf of the Ambilobe Block joint venture partners, and completion is expected within 45-50 days.
The Ambilobe production sharing contract, awarded in 2004, is in Phase 2 of the Exploration Period with all minimum work commitments for the current phase completed. In December 2013, Sterling completed a farm-out agreement with Pura Vida Mauritius under which all costs associated with the acquisition of the discretionary 3D seismic program, up to a maximum S$15 million, are carried by Pura Vida. Sterling expects that the carry will cover all the costs of the 3D seismic survey. Sterling and Pura Vida each hold a 50% interest in the Ambilobe Block, with Sterling as operator.
Sterling's CEO Eskil Jersing said: “We are looking forward to safely and efficiently acquiring the first 3D seismic survey on the Ambilobe Block; providing valuable new data which will be used to identify potential drillable prospects.’’
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