Project Profile
Location: Blocks LB-08 and LB-09
Area: approx. 7,200 km²
Start-up Year: 2012
African Petroleum holds a 50% interest in Blocks LB-08 and LB-09. African Petroleum signed an agreement with a private London based firm for the remaining 50% interest in the project. The Liberian Blocks were acquired in 2005 and cover an area of approximately 7,200km². Blocks LB-08 and LB-09 are located offshore Liberia, with the Mercury and Venus discoveries in Sierra Leone, located to the North West and the Jubilee Field, to the South East, offshore Ghana. The Jubilee Field has a reported resource potential of 3 billion barrels recoverable from the Cretaceous submarine fans in the deepwater, offshore Ghana. In Liberia, previous exploration drilling during the 1970\'s and 1980\'s included six wells with oil shows on the shallow water shelf area. To date, there have been no deepwater wells in Liberia targeting the Cretaceous sands found in the Mercury, Venus and Jubilee discoveries.
African Petroleum has completed the acquisition and interpretation of 5,100 sq km of 3D seismic survey over the Liberian Blocks, which targeted the Cretaceous submarine fan system, previously identified from the 2D seismic survey data. An extensive submarine fan system similar to those containing the Mercury, Venus and Jubilee discoveries has been identified on the Liberian Blocks. The company has contracted Maersk Drilling for a two well programme at Blocks LB-08 and LB-09, with the option to test both wells. The two well programme will be completed using the ultra deepwater semi-submersible, Maersk Deliverer drilling rig. The Maersk Deliverer is the third in a series of three state - of-the-art new build ultra-deep-water development semi-submersibles in Maersk Drilling’s fleet and is capable of drilling in water depths of up to 3,000 metres. African Petroleum took delivery of the drilling rig in August 2011.
In November 2016 an agreement between African Petroleum and the relevant Liberian authorities regarding the possible amendment of terms and extension of these blocks had not been met. As a result, the production sharing contracts for blocks LB-08 and LB-09 have expired and will not be extended.
Operator:
African Petroleum: Operator with 50% interest
Other: 50% interest
Contractor:
Maersk Drilling: Maersk Deliverer to drill Blocks LB-08 and LB-09
Ocean Rig: Eirik Raude semi-submersible rig to drill Block LB-09