South Africa, Proven Petroleum System, Direct Farm-in
A unique opportunity to participate in an exploration and appraisal programme in in South Africa’s proven offshore petroleum system
MPP-ENERGY LLC, P.O Box 4422, Fujairah, U.A.E
July 26, 2021 at 11:06 am
Type of Deal:
MPP-Energy is currently conducting a non-public farm-out process on behalf of our client who holds exclusive exploration rights spanning approximately 181,353 km2 in six offshore basins on the south and east coast of South Africa. The acreage is located in prime positions adjacent to proven fields and on-trend with producing oil and gas discoveries nearby and acreage under exploration by major E&P companies such as Anadarko, Exxon Mobil, Equinor, Total, ENI, Sasol and others. Several major hydrocarbon discoveries have taken place near these blocks. A direct farm-in to two areas, separately or together, is offered. The first Area (1) covers 5,400 km2 in the Western Bredasdorp Basin in relatively shallow water depths The other area (2) is bounded by the Mozambique basin in the North, Zululand and Durban Basins in the West, Natal Valley in the South and Mozambique ridge in the East, covering about 48,000 km2 in the Kwazulu–Natal Offshore Province.
Area 1 covers an area of 5,400 km2 in the Western Cape Province in the shallow water with depths ranging from 50 to 200 meter along the western slope of the Columbine Agulhas Arch. The block lies in the West Bredasdorp basin which has very high prospectivity. Several major hydrocarbon discoveries have taken place in the near proximity of this block. All elements of the petroleum system are present. About 70 percent of the Area is covered by the Agulhas ridge which consists of the extremely faulted and fractured sub-aerial quartzite of the Cape Supergroup Formation. Preliminary interpretation have identified four potential leads consisting of a turbidite channel, a turtleback structure, canyon fill and stratigraphic pinch-out structures. Six 2D seismic lines (374 km) are crossing the block. However, multiclient seismic is also available. The resources of the 4 leads identified are estimated as 111, 255, 114 and 108 MMBL of oil respectively.
Area 2 covers 48,000km2 in the Kwazulu–Natal Offshore Province in water depths from 900 to 3,000 m. The area is bounded by the Mozambique basin in the North, Zululand and Durban Basins in the West, Natal Valley in the South and Mozambique ridge in the East. Based on existing seismic data (17 lines-2889 km) study, a total of twelve turbidite fan-leads, two basement high leads and one flower structure were interpreted. Unrisked prospective resources estimates for the above leads have been calculated to be 3 Tcf Gas in-place as well a billion barrel Oil-in-place. Resource calculations are reasonably confirmed by the supporting evidence of active petroleum system in this area with the correlation made between multiple Wells.
Our client wishes to reduce its interest in the two areas by farming out material interests in exchange for a contribution to past costs, bonus payment and a carry for the work programme. A direct farm-in to either or both areas is offered. The farm out will be subject to contract and Government approvals.
|Full information for premium subscribers|
(must be logged in):