Malaysian oil and gas company Petronas, through its subsidiary PC Senegal Ltd, has signed a farm-in agreement with Total E&P Senegal SAS, a subsidiary of Total, to acquire a 30 per cent participating interest in the Rufisque Offshore Profond block
With this agreement, Petronas marks its entry into the oil and gas sector of Africa’s west coast, following its upstream strategy to grow its international exploration portfolio.
Total will maintain operatorship with 60 per cent equity alongside Société Nationale des Pétroles du Sénégal (Petrosen) which holds the remaining 10 per cent interest.
The Rufisque Offshore Profond block covers an area of 10,357 sq km, offshore Senegal with a water depth ranging from 100 meters to 3000 meters. It is located in the vicinity of recent significant oil and gas discoveries in blocks namely St Louis Profond and Cayar Profond and Rusfique Sangomar OffShore Deep (RSSD).
Upon completion on the interpretation of the acquired 3D seismic data and once a prospect has been identified and evaluated, exploration drilling activities will commence in the Rufisque Offshore Profond block in 2019.
In March 2018, PC Gabon Upstream SA (PCGUSA), the subsidiary of Petronas, discovered new oil and gas from Boudji-1 exploration well in Block F14 (Likuale), which is located in South Gabon. Petronas said that it further aims to spur growth activities in the entire region, helping it to build a major deepwater portfolio across the globe.