Page 20 - AfrOil Week 49

AfrOil NEWS IN BRIEF AfrOil

UPSTREAM interpretation of its Marula prospect in the west- 7,000 km of 2D seismic, gravity and magnetic
ern part of Block 2011A. data in order to evaluate the prospectivity of
Africa Oil receives Kenya mic data over the relatively underexplored east- the licence area. Parts of the seismic database
Separately, Global has also acquired 2D seis-
were processed in 2011 and 2016, before 934
licence extensions to the ern part of the block and the Company expects km of long-offset 2D seismic was acquired by
the interpretation of this data significantly to Global over the Gemsbok prospect in 2017.
end of 2021 enhance the prospectivity already identified in The significant prospects and leads identified
this area.
were independently evaluated by AGR TRACS
Africa Oil has announced that the Company Interpretation of both sets of data is under- International in its Competent Persons Report,
and its Joint Venture partners have received way, following which the Company will update which estimated Gross Technical Prospective
extensions to their exploration licences for the its previous Prospective Resources estimate for Resources of 3.663bn barrels, of which 3.115bn
10BB/13T blocks in Kenya to the end of 2021. PEL0094, published on July 20, 2020. Prepara- barrels was attributable to Global (RNS of Janu-
This follows the approval of the work pro- tions are also underway for a farmout process ary 15, 2018).
gramme and budget for next year by the Minis- which will be launched once the seismic inter- Global Petroleum, December 03 2020
try of Mines and Petroleum. pretation is complete.
The licence extensions will allow the Joint With respect to the Company’s other Namib- VAALCO completes 3D
Venture partners to re-assess Project Oil Kenya ian licence, PEL0029 (Blocks 1910B and 2010A),
and design an economic project at low oil prices the licence expired under its terms on December seismic survey data
whilst preserving the phased development con- 3, 2020, further extensions not being permitted
cept. In parallel, over the coming months, the under Namibian petroleum exploration law. The acquisition over entire
Joint Venture partners will work closely with the Company has completed its outstanding licence
Government of Kenya on land and water agree- work programme commitments under budget. Etame Marin block
ments, gaining approval of the Environmental It is the Company’s current intention to apply for
and Social Impact Assessments and finalising a new licence in due course. VAALCO Energy has announced that the acqui-
the commercial framework for the project. The The Petroleum Agreement for PEL0094 was sition of 3D seismic data at the Etame Marin
successful completion of this work will enable signed in September 2018, and since then Global block offshore Gabon has been completed.
the submission of Field Development Plans to has licensed historic 2D seismic data over the Highlights: Completed the acquisition of
the Government of Kenya. licence, as well as a 2010 vintage 3D seismic data nearly 1,000 square km of new dual-azimuth
Keith Hill, Africa Oil’s President and CEO, survey from state oil company, NAMCOR (RNS proprietary 3D seismic data over the entire
commented: “I would like to express my appre- of 7th April 2020). Interpretation of this data has Etame Marin block that will be used to optimise
ciation for the collaboration that we have wit- confirmed two prospects, Welwitschia Deep and and de-risk future drilling locations and poten-
nessed over the last several months, both with Marula; both are within the 3D seismic survey tially identify new drilling locations; Enhances
the Government of Kenya and the new lead- area. sub-surface imaging by merging legacy data
ership team at Tullow, which has allowed us to It is estimated that the two prospects contain with newly acquired seismic allowing for the
design a roadmap to move the project towards a a total of 881mn barrels of unrisked gross Pro- first continuous 3D seismic over the entire block;
technical and commercially viable Field Devel- spective Resources (Best Estimate), of which Estimates the total costs of both the acquisition
opment Plan.” 687mn barrels is net to Global (RNS of July 20, and processing of seismic data to be approx-
Africa Oil, December 06 2020 2020). imately $14 to $16mn gross over the period
Global is the operator of PEL0094 and the from Q4-2020 through Q4-2021, and VAALCO
Global Petroleum participating interests are: Global Petroleum expects to fully fund its portion with cash on
Namibia (100% owned subsidiary of Global hand and cash from operations; Processing of
announces update on Petroleum) 78%; National Petroleum Corpora- the seismic data expected to begin in January
tion of Namibia (NAMCOR, the Namibian state 2021, with all data expected to be fully processed
Namibian licences oil company) 17%; Aloe Investments Two Hun- and analyzed by Q4-2021; and Planning for the
dred and Two (a private Namibian company) commencement of the next drilling campaign at
Global Petroleum has announced an update on 5%. Etame in late 2021 or early 2022.
the Company’s Namibian licences. Namcor and Aloe are carried by Global. Cary Bounds, Chief Executive Officer, com-
Regarding its licence PEL0094 (Block The Petroleum Agreement for PEL0029 was mented: “We are very pleased to have completed
2011A), the Company recently purchased signed in December 2010, and in the interven- the acquisition of our new proprietary 3D seis-
historic 2D seismic data in order to improve ing period Global has licensed approximately mic survey over our entire Etame Marin Block.
We will now proceed with the processing and
analysis of the data that has been collected.”
VAALCO Energy, December 07 2020
United Oil and Gas provides

update on Abu Sennan

AIM-listed United Oil & Gas has provided an
update on the Abu Sennan Licence in Egypt
(United 22% working interest), including the
signing of the rig contract for the ASH-3 well.

P20 www. NEWSBASE .com Week 49 09•December•2020