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AfrOil PROJECTS & COMPANIES AfrOil

Cameroon extends GDC’s

licence for Matanda block

CAMEROON GAZ du Cameroun (GDC), a Cameroon-based “This increase was the result of a detailed
subsidiary of UK-headquartered Victoria Oil internal prospect evaluation [that] identified
& Gas (VOG), has secured an extension of its 19 gas prospects in shallower Tertiary-aged
exploration licence for the onshore Matanda reservoirs, plus seven prospects in deeper, Cre-
block. taceous-aged prospects,” VOG said. “The com-
VOG made an announcement to this effect pany believes the larger of these prospects has
on November 24, saying that Cameroon’s Min- mean unrisked prospective resources of over
istry of Mines, Industry and Technological 65 bcf (1.84 bcm), with [a] geological chance of
Development had pushed the end date for the success estimated at better than 40%.”
Matanda licence back by one year. The licence Roy Kelly, VOG’s CEO, said he was
is now due to expire on December 17, 2021, it “extremely pleased” about the extension of
indicated. GDC’s exploration licence. He also commented
The extension “has been approved by the on the company’s operational plans, say-
minister, and a presidential decree will follow in ing: “The first well will undoubtedly be in the
accordance with the regulations in due course,” onshore area, where nearby wells in the Bomono
it added. licence have derisked the shallower plays and
GDC became the leader of the Matanda proximity to the GDC-operated gas distribu-
project in December 2018, when it acquired tion infrastructure allows easier monetisation
a 75% stake in and operatorship of the block. of discoveries.” ™
The remaining 25% of equity is owned by Afex
Global, and state-controlled Société Nationale
Des Hydrocarbures (SNH) will have the right
to buy in with a 25% stake if the partners move
ahead with commercial development.
Since GDC joined the project, the partners
have been able to issue a revised estimate of
Matanda’s reserves. In a report published in July
2020, the partners’ contractor – Exploration
Reservoir Consultants (ECRL), a UK-based
upstream oil and gas consultancy – put the
block’s gross unrisked mean prospective
resources at 1.196 trillion cubic feet (33.87bn
cubic metres) of natural gas. This represents a
32.4% increase on the previous figure of 903bn
cubic feet (25.57 bcm). Matanda’s eastern edge is adjacent to Logbaba (Image: Afex Global)

Scirocco reports on Ruvuma

exploration programme

TANZANIA THE joint venture that is developing the The partners intend to use the data collected
Ruvuma block in Tanzania is preparing to move during the survey to supplement existing 2D
ahead with exploration work, according to seismic data and to develop a more comprehen-
UK-based Scirocco Energy. sive understanding of Ntorya before drawing
Scirocco, a minority shareholder in the pro- up full-field development plans for the area, it
ject, said in a statement dated November 23 explained.
that the group had agreed to proceed with the It also stated that the joint venture intended
collection of 400 square km of 3D seismic data to sign an agreement with a contractor as soon as
from Ntorya, a natural gas-bearing section of the possible so that it could begin the seismic survey
block. on schedule.

P16 www. NEWSBASE .com Week 47 25•November•2020