Summary & Overview of Licence Round Opportunity
- Strategic exploration partnership with SNOC including a near term exploration well planned to be drilled in Concession Area B.
- 3 onshore concession areas available in proven / producing Thrust Zone play trend, including un-appraised deeper gas discovery below Sajaa gas-condensate field.
- In excess of 5 TCF total proven resources from existing fields with production history confirming 90% gas recovery. Naturally fractured carbonate reservoirs with high well productivity, average first year rates exceeding 40+ MMSCFD per well.
- Newly acquired extensive 3D seismic, (shot in 2016 and fully processed in 2017), significantly improves imaging of the fold thrust belt. Early indications of potentially large, undrilled leads & prospects, and untested plays.
- Significant capacity available in existing SNOC field infrastructure, gas/condensate processing and export facilities. Suitable field discoveries can be tied into the existing plant in order to generate early cash flow at lower CAPEX with SNOC to purchase the hydrocarbons.
- New globally competitive fiscal regime, which ensures smaller fields are highly commercial and larger accumulations also generate very attractive returns.
- Concession agreement and JOA available in the Data Room, together with the relevant technical data including the 3D seismic. Bids due by 18th November. Register below.