Project Profile
Location: offshore Sierra Leone, adjacent to Jupiter-1, Mercury-1 and Venus-1
Reserves: Undiscovered OIIP 8.5 mmboe 2 LEADS
Area: 2,015 sq. km
Water Depths: 3.25 - 3.85 km
In December 2011 the Petroleum Directorate of Sierra Leone (SLPD) opened a licensing round for nine offshore exploration blocks. The block covers is near the maritime frontier of Liberia. The Block is in close proximity to the recent Jupiter, Venus and Mercury discoveries made by Anadarko. NSAI has mapped a number of stratigraphic leads on SL-07A-10, analogous to the turbidite channel systems proven to be oil-bearing by Anadarko.
On July 9th 2012, production agreement over Block SL-07A-10, was awarded to a consortium comprising Minexco Petroleum and Signet Petroleum. Minexco Petroleum paid a signature bonus of US$15m in October 2012.
The agreement required a pre-drill work programme on the block over 3 years. Minexco agreed to carry Signet through the first well on the block, and the Government will be carried through to production.
Operators:
Minexco Petroleum: Operator with 90% interest
Signet Petroleum: 10% interest carried by Minexco
Contractors:
TGS-NOPEC Geophysical Company: Completed approximately 1,000 km of 2D seismic over part of the block. In 2013, they acquired a further 2,000 km infill.