Project Profile
Location: Tarfaya Block, on the Atlantic Margin, inboard from the Canary Islands, offshore Morocco
Reserves: Low side case of 17 million barrels of oil to a high side volume of 749 million barrels of oil (best estimate of 110 million barrels of oil)
The La Dam Prospect is located in the Tarfaya Block, offshore Morocco, on the Atlantic Margin, inboard from the Canary Islands and is a combination of structural and stratigraphic trap with three objective horizons (Upper Jurassic Chaotic Zone, Middle Jurassic Bathonian-1 and Lower Jurassic Toarcian-7). The prospect is within the 3-D seismic coverage which was the primary source for the NSAI interpretation. The NSAI combined estimate of un-risked prospective resources contained in the three prospective intervals for the La Dam Prospect ranges from low side case of 17 million barrels of oil to a high side volume of 749 million barrels of oil with a best estimate of 110 million barrels of oil.
Tangiers is the Operator and owns a 75% interest in the eight permits which comprise the Block, with the Moroccan government (OHNYM) being carried for its 25% interest through individual exploration programs. OHNYM retains the option to convert to a 25% working interest in any hydrocarbon pool that is developed.
Operators:
Galp Energia: Operator with 50% interest
Office National des Hydrocarbures et des Mines (ONHYM): 25% interest
Tangiers Petroleum: 25% interest
Contractors:
NSAI: Estimator of prospective resources