Total awarded two exploration licenses in Mauritania

Total has signed two exploration licenses with the Mauritanian government that gives it, as operator, a 90% interest in the following blocks:

Block C 9 in ultra deep offshoreBlock Ta 29 onshore in the Taoudeni basin.

The National oil company SMH will hold the remaining 10%.

"With this ultra deep offshore award, we are entering into a high-potential, frontier play, known as the abrupt margin, in which major discoveries have been made recently, like in French Guyana" said Marc Blaizot, Total's Senior Vice President, Exploration.

"The license award is aligned with Total’s strategy of expanding its exploration operations into high-potential geological plays while leveraging the Group’s globally recognized ultra-deepwater expertise. The new onshore block is on the same trend as onshore Block Ta 7 on which latest exploration results show good prospectivity in this part of the Taoudeni basin."

The block C 9 is located approximately 140 kilometers offshore Western Mauritania, covering an area of more than 10,000 km?, in water depths ranging from 2,500 to 3,000 metres.

The Block Ta 29 is located in the Saharan desert, 1,000 kilometers east from Nouakchott and north of the Block Ta 7 in which Total is already conducting exploration activities.

For both blocks, a seismic acquisition campaign is planned as the first phase of the exploration program.

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Tullow signs new PSC as operator offshore Mauritania

Tullow Oil reported new Production Sharing Contract (PSC) arrangements have been agreed with the Government of Mauritania and its joint venture partners.

These arrangements will enable the Group to progress the appraisal and development of existing discoveries and pursue exploration in a new contract area covering 10,725 square kilometres with Tullow as operator.

The new arrangements, reached through transactions with partners and PSC awards from the Government, result in the exploration areas of the PSCs previously known as PSC–Area A and PSC–Area B being replaced by a new, single Exploration PSC called C-10. Tullow will operate this new PSC with a 59.15% interest.

The existing Banda, Tevet and Tiof discoveries have been ring-fenced under their original PSC terms and extensions of up to 18 months have been granted to allow appraisal and development activities to be completed.

Petronas will continue to operate Chinguetti Field on the basis of the original equities.

Tullow will work closely with the Government of Mauritania and its Joint Venture partners on the near-term commercialisation of the existing discoveries and the initiation of a high-impact exploration programme.

The development of the Banda gas and Banda oil rim discoveries will be prioritised and it is expected that the results of initial development studies will be presented to the Government in early 2012. The high impact exploration programme is expected to include a minimum of two wells over the next three years.

View the original article here

Tullow signs new PSC as operator offshore Mauritania

Tullow Oil reported new Production Sharing Contract (PSC) arrangements have been agreed with the Government of Mauritania and its joint venture partners.

These arrangements will enable the Group to progress the appraisal and development of existing discoveries and pursue exploration in a new contract area covering 10,725 square kilometres with Tullow as operator.

The new arrangements, reached through transactions with partners and PSC awards from the Government, result in the exploration areas of the PSCs previously known as PSC–Area A and PSC–Area B being replaced by a new, single Exploration PSC called C-10. Tullow will operate this new PSC with a 59.15% interest.

The existing Banda, Tevet and Tiof discoveries have been ring-fenced under their original PSC terms and extensions of up to 18 months have been granted to allow appraisal and development activities to be completed.

Petronas will continue to operate Chinguetti Field on the basis of the original equities.

Tullow will work closely with the Government of Mauritania and its Joint Venture partners on the near-term commercialisation of the existing discoveries and the initiation of a high-impact exploration programme.

The development of the Banda gas and Banda oil rim discoveries will be prioritised and it is expected that the results of initial development studies will be presented to the Government in early 2012. The high impact exploration programme is expected to include a minimum of two wells over the next three years.

View the original article here