Raven Resources Group has announced that it has been granted an exploration licence over Block 6 in the Taoudeni Basin onshore Mali via its subsidiary Corvus Resources Management Limited
The agreement between Raven Resources Group and the Ministry of Mines and Energy allows the firm to prospect for hydrocarbons in the basin.
Raven Resources Group said that it has plans to invest more than US$50mn as part of this exploration campaign over its seven-year licence period.
The Taoudeni Basin is reportedly the largest sedimentary basin in northwest Africa and has had companies such as Eni, Total and Sonatrach prospect for hydrocarbons.
Mamadou Diarra Igor, minister of mines and energy, said, “This is a critical time for Mali in more ways than one and these positive developments herald a new beginning — a course correction for the people of Mali who will definitely benefit from this sort of investment in the economy.”
Adeniyi Makanjuola, director for business development of Raven Resources Group, added that they were excited about the opportunity to prospect in one of the last frontiers for onshore oil and gas exploration worldwide.
