Project Profile
Location: onshore coastal area of northwest Madagascar
Area: 12,000 sq. km
Start-up Year: -
Ophir Energy has entered into an agreement with Wilton Petroleum to acquire an 80% interest and Operatorship of a Production Sharing Contract (PSC) over an area designated as the Marovoay Block 2102 onshore Madagascar. In July 2013, Tower Resources farmed in to the field with 20% interest.
The Block 2102 lies in the coastal area of northwest Madagascar covering an area in excess of 12,000 sq. km. The PSC was awarded to Wilton following a competitive licensing round in 2006. Wilton has undertaken an initial prospectivity assessment of the block that has included reprocessing of legacy seismic data, extensive field studies and sample analysis. A revised geological model has been developed following this work which has potentially significant implications for the prospectivity of the basin. Ophir proposes to test these geological concepts by acquiring 3,600sq. km of high resolution gravity gradiometry and aeromagnetic data, through a contract with UK potential field specialists ARKeX Ltd. Under the terms of the farm in agreement, Ophir will fund 100% of the cost of acquiring these new data and will reimburse certain back-costs. In the event that Ophir elects to drill, Wilton will be carried through the drilling of the first two exploration wells subject to a financial cap on the extent of the carry.
Operators:
Ophir Energy plc: Operator with 80% interest
Tower Resources: 20% interest (After acquiring Wilton Petroleum Sept 2013)
Contractors:
ARKeX: Geophysical services including high resolution gravity gradiometry and aeromagnetic data