Dussafu Marin Production Sharing Contract
|Dussafu Marin||Exploration||33.33%||Harvest Natural Resources*|
*Operator of the Field
Gabon is sub-Saharan Africa’s fourth largest producer and exporter of crude oil. The Dussafu Block is a large Exploration and Development block with multiple discoveries and prospects lying within a proven oil and gas play fairway within the Southern Gabon Basin. Dussafu is operated by Harvest Natural Resources and Panoro’s current interest in the license is 33.33%. Covering an area of 2,775 sq km, most of the block lies in less than 200m of water and has been explored since the 1970s. To the north west of the block is the Etame-Ebouri Trend, a collection of fields producing from the pre-salt Gamba and Dentale sandstones, and to the north are the Lucina and M’Bya fields which produce from the syn-rift Lucina sandstones beneath the Gamba.
A total of 20 wells have been drilled on the Dussafu Block to date, of which five have been pre-salt discoveries (4 oil and 1 gas) and oil shows are present in most other wells. Panoro has participated in the last two of these pre-salt discoveries called Ruche (2011) and Tortue (2013) and as a result Panoro has a 100% exploration success record in the block. The economic gross 2C resources in Dussafu to date are around 33.4 MMbbls of oil distributed between the Ruche, Tortue, Moubenga and Walt Whitman fields. In addition to this, unrisked gross prospective resources of around 1 billion barrels have been identified on the license.
A detailed plan for development of the four fields as a cluster has been approved by the Gabonese Government and an Exclusive Exploitation Authorisation (“the Ruche area EEA”) was awarded in July 2014. The area awarded under the EEA covers 850.5 km2 and includes all four fields and numerous undrilled structures that could be economically and expeditiously developed through the Ruche area development infrastructure. The EEA allows the Dussafu joint venture partners to exploit hydrocarbon resources in the area of the EEA for up to 20 years from first production.
The exploration potential in Dussafu is significant and interpretation of recent 3D seismic data has confirmed several large Dentale prospects and numerous Gamba prospects. The operator’s estimate for Pmean unrisked gross prospective resources currently stands at over 1 billion barrels of oil. The majority of these resources are located within the Ruche area EEA. These prospects are being analysed for suitability for possible future exploration drilling.