Noble Energy and Australia’s Woodside Petroleum signed a production sharing contract (PSC) with the Government of Gabon covering block F15 in the Gabon Coastal basin, West Africa.
Additionally, Marathon Oil Corp. signed an exploration and production sharing contract (EPSC) for the Gabon offshore block G13, located in the deepwater, pre-salt play.
Noble Energy and Woodside
Noble Energy and Woodside's PSC includes a four-year seismic commitment and a future option for exploration drilling. Noble will be the operator with a 60% working interest, with partner Woodside, who will have the remaining 40%.
Noble says that several substantial subsalt leads have already been identified on the acreage, and they expect the prospectivity of the block will be enhanced as the work program progresses.
“This is yet another exciting opportunity for us in Africa, building on recent acquisitions in Tanzania and Morocco,” says Peter Coleman, Woodside's CEO. “Once again, this opportunity reflects our disciplined and strategic approach to studying regional petroleum systems and is a good fit for our core capabilities in deepwater exploration.”
China's BGP Pioneer recently completed a 3D seismic project of approximately 1500 sq km offshore Gabon using three seismic vessels, BGP Pioneer, the Explorer and the Prospector.
Earlier this month, Eni discovered gas and condensates in the Nyonie Deep exploration prospect in block D4, about 13km from the coast of Gabon estimating initial potential in place is 500MMboe. In addition, four discoveries in the Ruche field off Gabon were declared commercial in July 2014.
Marathon's Gabon Exploration
Marathon Oil Corp. announced it signed an exploration and production sharing contract (EPSC) for the Gabon offshore block G13, Tchicuate, located in the deepwater, pre-salt play through its wholly owned subsidiary Marathon Oil Exploration Ltd.
The Tchicuate block encompasses 275,000 acres with water depths ranging from approximately 3250 to 8250ft. It is located approximately 50 miles offshore the coast of Gabon and near proven shallow-water, pre-salt oil discoveries.
Marathon was the high-bidder on the block in Gabon’s licensing round in October 2013.
Marathon Oil operates the block and holds a 100 percent participating interest. In the event of development, the Republic of Gabon will assume a 20% financed interest in the contract upon commencement of production. The State holds additional rights to participate in the block in the future as a co-investor.
"The addition of the Tchicuate Block aligns well with our strategic focus of capturing quality and material resource in proven and emerging oil provinces, and adds depth to the Company's exploration portfolio, following our 2013 Diaman-1B discovery on the Diaba Block offshore Gabon," says Mitch Little, Marathon Oil CP, international and offshore exploration and production.
Marathon Oil also holds a 21.25% working interest in the non-operated Diaba License G4-223, encompassing 2.2 million gross acres, where the Diaman-1B discovery was made in 2013.Image from Woodside Petroleum
Read more:
Ruche discoveries off Gabon declared commercial
Gabon names seven for deepwater blocks
BGP completes 3D seismic project offshore Gabon
Etame devt offshore Gabon on schedule
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