Corcel Plc will commence 2D seismic acquisition operations in the KON-16 Block onshore Angola in partnership with BGP Geophysical Limitada, LDA, and BGP INC., China National Petroleum Corporation (BGP), following the ministerial approval of the Environmental Impact Assessment (EIA)
The new set of 326 line-km seismic data that will be acquired by BGP will add to the 2,589 line-km of good quality 2D data acquired in 2010 and reprocessed in 2025. This will boost seismic coverage from the KON-16 area by a starking 227%, ensuring fine subsurface imaging and prospect definition.
Before KON-16's status can be declared drill-ready, Corcel will be initiating a significant data integration campaign with BGP, starting with the legacy 1970's 2D data, right through the modern 2010 2D seismic data (which was recently reprocessed), to the 2024 eFTG data. While current modern 2D line spacing averages >14 km in the areas of interest, identifying prospectivity, the partners are anticipating a closer 2D line spacing for drilling to begin.
Set for early 2026, initial results from the seismic processing is expected by Q3 2026.
As the company is anticipating drilling a high-impact well within KON-16, Richard Lane, Corcel COO, said, "Receiving approval to conduct both seismic acquisition and exploration drilling activities within the KON-16 block is a major milestone for Corcel, setting us on the path to drilling a high-impact exploration well. We are also very excited to have signed the seismic acquisition contract with BGP - another major milestone - marking Corcel's first significant operational activity as operator of the KON-16 block. The mobilisation of the seismic team and the imminent start of the seismic program signal the real start of on-the-ground operations. This is an important step for Corcel as we move from planning to execution, and we look forward to keeping shareholders updated as activity ramps up."