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AfrOil NEWS IN BRIEF AfrOil

UPSTREAM drilling of the Bambo well to test the main target Biofuels (ANPG) that the Data Packages for
of S400 series sands (152mn barrels, P50, gross), blocks for oil exploration in the Terrestrial Basin
FAR signs new joint which FAR has mapped as the southern culmi- of the Lower Congo were now available (CON1,
nation of the Sangomar Field extending into The CON5 and CON6), GeoPartners, in associa-
operating agreements Gambia. The Bambo prospect has multiple res- tion with Trois Geoconsulting and DDMS, has
ervoir targets, having two of the main reservoirs announced the availability of existing 2D seismic
for Gambian asset in S400 series sand being hydrocarbon-bearing data for viewing and licensing in advance of the
in the Sangomar wells. Preparations are now 2020 Bid Round.
FAR Gambia Ltd, a wholly owned subsidiary of underway for the commencement of drilling Approximately 1,650 km of data was acquired
FAR Ltd, has signed new Joint Operating Agree- operations. Initial planning has further high- in three different campaigns from 2007 to 2010
ments (JOAs) in respect of the A2 and A5 Blocks lighted the opportunity to locate a single well to for Sonangol EP as part of the effort to improve
in The Republic of The Gambia, with PC Gambia intersect both the main target, S400 series and the understanding of the potential of the Lower
Ltd (a subsidiary of Petroliam Nasional Berhad, a shallower, secondary target at the S390 sand Congo Basin onshore.
or Petronas). This follows the granting of new (464mn barrels, P50, gross). For more information on data viewing, please
Licences for those Blocks by The Government The operational team that managed the contact GeoPartners.
of The Gambia effective October 1, 2019, after Samo-1 well campaign was reassembled in GeoPartners, June 29 2020
which FAR and PETRONAS took the opportu- Q4-2019 with significant progress being made
nity to update the terms of the existing JOAs by however drilling activities have currently been Uganda’s second
entering into new JOAs with effect from October suspended in the wake of COVID-19 and will
1, 2019. recommence when it is safe to do so. licensing round: Joining
FAR remains as Operator under the new FAR Management said: “We are delighted to
JOAs, which better reflect the terms of the new enter into new JOAs with Petronas in respect of Africa’s next oil and
Licences. the A2 and A5 Blocks, following the granting of
Efforts to find an additional partner for the the new Licences last year. This is testament to gas frontier
drilling of the next well in The Gambia are ongo- an excellent partnership between FAR and PET-
ing, with FAR having run numerous data room RONAS. The new JOAs and Licences provide Among the few ongoing licensing rounds on the
presentations for interested parties. FAR is work- us with up-to-date agreements for our ongo- continent this year is Uganda’s Second Licensing
ing to conclude a farm-out before the restart of ing work on these Blocks, where we are highly Round, announced by the Ministry of Energy
the drilling operations. encouraged to continue exploring in this proven and Mineral Resources last year. The deadline for
Block A2 and A5: FAR has a 50% interest in and prospective basin.” submitting the application for qualification on
Block A2 and Block A5 in The Gambia. Both are FAR, June 25 2020 the five blocks on offer in the Albertine Graben
located to the south of FAR’s Sangomar Field is September 30, 2020.
development offshore Senegal. The blocks cover The acreages on offer have become even more
an area of approximately 2,682 square km within INVESTMENT attractive since Tullow Oil announced the sale of
the rapidly emerging and prolific MSGBC (Mau- its entire stake in the Lake Albert Development
ritania-Senegal-Guinea-Bissau-Conakry) Basin Data package available Project earlier this year to Total. The agreement
and lie approximately 30 km offshore in water puts an end to a long-standing capital gains tax
depths ranging from 50 to 1,200 metres. In com- for Angola’s onshore dispute with Ugandan authorities and opens
bination, Blocks A2 and A5 have potential to up the way for the upstream development of
contain prospective resources in excess of 1bn bidding round up to 200,000 bpd by Total and China National
barrels of oil (on an unrisked, best-estimate, Offshore Oil Corp. (CNOOC), along with an
100% basis). With reference to the recent announcement oil refinery and an oil export pipeline through
Technical and commercial analysis supports by the National Agency of Petroleum, Gas and Tanzania.
As Total and CNOOC develop billions of
barrels of proven oil reserves near Lake Albert,
the government is committed to attracting more
investment into the development of its hydro-
carbon potential through the Second Licensing
Round.
Uganda National Oil Co. (UNOC) is now
also inviting interested entities to establish
joint venture partnership and participate in the
licensing round in order to apply and secure an
exploration licence. All exploration and pro-
duction companies with a proven track record
of operating petroleum exploration licenses are
eligible for such a joint-venture with UNOC. The
joint-venture proposal guidelines are accessible
after sending a company profile and power of
attorney to UNOC. The joint venture proposals
will need to be submitted no later than 5:00 p.m.
local time on July 24, 2020.

Week 27 01•July•2020 www. NEWSBASE .com P17