Houston independent Vanco Energy Co. is continuing to expand its deepwater acreage off Africa with the recent acquisition of two license areas.
In one transaction, Vanco signed a production-sharing agreement with Senegal's state oil firm Petrosen for 100% interest in Dakar Offshore Profond, a deepwater block covering 8 million acres off Senegal (see map).
In a second transaction, Vanco has acquired a farmout of Lasmo PLC's Ras Tafelney permit off Morocco.
Senegal block
Vanco's Senegal block lies in 200-3,000 m of water and extends from Senegal's northern border with Mauritania to the northernmost border of neighboring Gambia.
The concession holds Mesozoic and Tertiary prospects of interest for Vanco, and by 2002 the company expects to acquire at least 2,000 km of 2D seismic. Vanco says it will acquire additional 2D and 3D seismic through 2003.
This license award off Senegal is the largest offshore concession ever to be awarded in the country, says Vanco, and the acquisition makes Vanco the largest deepwater license-holder in West Africa with about 20 million gross acres (17 million net acres).
Moroccan license
Through the farmout, Vanco acquires a 60% interest in the Ras Tafelney permit. The firm plans to start a second 2D seismic survey this month on the block.
The Ras Tafelney permit, which covers 2.8 million acres, borders Vanco's Safi Haute Mer permit to the south. Ras Tafelney lies on the Tafelney plateau in 100-2,000 m of water.
London-based Lasmo will retain 40% interest in the Ras Tafelney permit and will serve as the area's operator for the extent of the current exclusive reconnaissance permit. Vanco will become operator once an exploration license is issued.
Fugro-Geo Team AS will conduct a 2D seismic survey over designated areas of the Safi Haute Mer and the Ras Tafelney permits. MV Geo Baltic will survey 2,000 km of the Safi Haute Mer permit and 1,500 km of the Ras Tafelney permit.
Vanco's first 2D survey off Morocco, which was conducted in November 1998, created a reconnaissance grid for deeper Tertiary play concepts on the Safi Haute Mer permit, the firm said. Interest in the Ras Tafelney permit brings Vanco's offshore Moroccan acreage to 7.4 million acres.
