Project Profile
Location: Atlantic margin, off Morocco, Africa
Area: 15,041 square kilometre
Reserves: 867 million barrels of oil and a high side of 4,959 million barrels of oil
The Tarfaya Block, offshore Morocco, includes eight permits totalling 15,041 square kilometres (approximately 3.7 million acres) situated on the Atlantic Margin, inboard from the Canary Islands. The Block is located within a proven petroleum system and contains multiple prospects and leads within Jurassic and Cretaceous sediments as well as emerging potential within the Tertiary and Triassic Formations. An independent report prepared by worldwide petroleum consultant Netherland Sewell and Associates Inc. (NSAI) on Tangiers\' initial four Jurassic aged prospects established an un-risked best estimate prospective resource of 867 million barrels of oil and a high side of 4,959 million barrels of oil.
The Tarfaya Offshore Block includes the Zeus and Little Zeus, La Dam, Assaka, Trident and Tarfaya Marin-A Prospects. San Leon is the operator of the Tarfaya licence and holds a 75% net operated interest (after buying the share for Tangiers Petroleum which pulled out in 2014). ONHYM, the Moroccan National Bureau of Petroleum and Mines, holds the remaining 25% interest. OHNYM retains the option to convert to a 25% working interest in any hydrocarbon pool that is developed.
Operators:
San Leon Energy: Operator with 75% interest
Office National des Hydrocarbures et des Mines: 25% interest
Moroccan Government
Contractors:
CGGVeritas: Assaka 3D seismic processing contract
Netherland Sewell and Associates Inc: Independent Report
Macquarie Capital: Manage the farm-out process
WesternGeco
Entrepose Drilling: Rig contract h for the Cabot 750 rig