BW Energy Ltd. will explore blocks Niosi Marin and Guduma Marin (formerly named G12-13 and H12-13), offshore southern Gabon, after signing production sharing contracts (PSCs) with Gabon’s Petroleum Minister and Minister of Economy.
The Niosi and Guduma blocks cover a surface area of 2,974 sq km and 1,927 sq km in shallow water, respectively, and are adjacent to BW Energy’s Dussafu Marin license, the company said in a release Oct. 31.
The PSC covering the Niosi block has an initial exploration period of 5 years with a work commitment of new 3D seismic data acquisition and one well. The PSC covering the Guduma block has an initial exploration period of 3 years with a work commitment of geological and geophysical studies. Both blocks have an option to extend the exploration period and enter a second phase with an additional well commitment.
“Most of the Niosi Marin and Guduma Marin acreage is within tie-back distance to existing infrastructure, enabling fast-track, low-cost development of future discoveries," said Carl K. Arnet, BE Energy's chief executive officer.
BW Energy is operator of the blocks (37.5%) with partners VAALCO Energy (37.5%) and Panoro Energy ASA (25%).
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
