Oil Review Africa


Click here to read the latest edition of Oil Review AfricaClick here to read the latest edition of Oil Review Africa
Click Here to View
 
Oil Review Africa e-newsletterOil Review Africa e-newsletter
Click here to view the E-newsletter

Other sites

 

 
 
 

African Farming and Food Processing
 

Simba Energy signs PSC for Chad oil blocks

Onshore oil rigSimba Energy said the first exploration phase of all three basins is five years and a second phase is planned to take three years. (Image source: aoenday)Pan-African oil and gas explorer, Simba Energy, has announced that it has signed an agreement with the Republic of Chad for 100 per cent interest in three potential oil and gas blocks within the Doba, Doseo and Erdis basins

Both parties have agreed to finalise the first-year work programme and complete the PSC documentation by 20 October 2012, according to Simba Energy.

“Simba is very enthusiastic about the potential of having secured 100 per cent interests in these three concessions. Each block is potentially a company maker in its own right and nicely complements our existing asset portfolio in terms of long-term growth potential,” stated Hassan Hassan, the company’s managing director of operations.

The first exploration phase of all three basins will last five years, with the second phase scheduled to take three years, Simba Energy stated.

The energy company explained that the first stage would require reinterpreting existing 2D seismic, acquisition of at least 750km of new 2D seismic, as well as 400 sq km of 3D seismic to establish various potential drilling opportunities.

The first two blocks, Chari Sud Block I and Chari Sud Block II, lie close to each other and are therefore regarded as one.

The third block, Erdis Block III referred to as the Kufra basin in Libya, has recently supported the company’s hope of the block’s prospectivity following the evaluation of gravity across the basin indicating a site of maximum deposition.

According to Simba Energy, the Republic of Chad has reserves of more than 1.5bn barrels of oil, with more than 400mn barrels of oil having been produced from the country in the last eight years. 

twitterFollow @OilReviewAfrica on TwitterfacebookFollow Oil Review Africa on FacebookrssFollow our RSS feed for the latest industry newsacpFind out more about Alain Charles Publishing

Market Price Index

Contact Us

Alain Charles Publishing
University House,
11-13 Lower Grosvenor Place,
London, SW1W 0EX, UK
T: +44 20 7834 7676
F: +44 20 7973 0076
W: www.alaincharles.com

twitterFollow @OilReviewAfrica on Twitter
facebookFollow Oil Review Africa on Facebook
rssFollow our RSS feed for the latest industry news

Copyright © 2014 Alain Charles Publishing Ltd.