Project Profile
Value: Undisclosed
Location: Saharawi Arab Democratic Republic (SADR), North West Africa
Area: 74,327 km2
Water Depth: From 200 to 2,500m
Start-up Year: -
In March 2006, Premier Oil was awarded four licences by the Government of the Saharawi Arab Democratic Republic (SADR) in North West Africa. The four blocks are Daora, Haouza, Mahbes and Mijek. Each block is equivalent in size to 2 North Sea quads (68 blocks). Premier Oil will hold 50% equity in each block, and is a non-operator, with Ophir Energy holding the remaining 50% interest and being the operator as well. Daora, Haouza, Mahbes, Mijek cover in total a gross area of 74,327 km2 in water depths from 200 to 2,500 metres. The SADR is a full member of the African Union and is classed as a non-self governing territory by the UN, reflecting the fact that a referendum on self-determination following decolonisation has not yet occurred.
Hague and London Oil (HALO) intends to make an acquisition, via its wholly-owned subsidiary Maghreb Exploration, of Premier Oil (SADR), which holds interests in five exploration licence areas in the SADR. (May, 2016)
Operators:
Ophir Energy: Operator with 50% interest
Premier Oil: 50% interest