Photo by: Bloomberg
PERTH (miningweekly.com) – Australian oil and gas producer Woodside has acquired a 40% interest in an exploration sharing contract with Noble Energy, in the Gabon coastal basin.
The company said on Monday that the block is located some 140 km off the south-western coast of Gabon and covered 2 700 km2, in water depths ranging from 2 300 m to 3 000 m.
Woodside CEO Peter Coleman said the exploration, exploitation and production sharing contract was an opportunity for Woodside to secure significant acreage in a highly graded emerging oil-prone province, with a like-minded and experienced partner.
“This is yet another exciting opportunity for us in Africa, building on recent acquisitions in Tanzania and Morocco. Once again, this opportunity reflects our disciplined and strategic approach to studying regional petroleum systems and is a good fit for our core capabilities in deep-water exploration.”
Noble, which has a 60% participation in the contract, will act as operator.
Woodside recently inked a farm-in agreement with fellow-listed Beach Energy over the Lake Tanganyika project, in western Tanzania, and in July this year agreed to a farm-in with Chariot Oil & Gas over the Doukkala basin, offshore Morocco.