Project Profile
Location: Orange basin, offshore western coast of South Africa
Value: Undisclosed
Area: 28,839 sq km
Water Depth: 300-2,500 m
Start-up Year: -
In September 2013, BHP Billiton Petroleum Great Britain Ltd., a unit of BHP Billiton Ltd., has acquired a 90% stake in Block 3B/4B off the western coast of South Africa in Orange basin from Global Offshore Oil Exploration (South Africa) (Pty.) Ltd., a unit of Global Energy Holdings LLC. Earlier in 2013, the South African government granted final approval to the farmouton the block to Global. South African authorities approved the deal and Global will retain a 10% working interest in the block.
The block's partners have identified a new oil play concept in the Orange basin. They added that technical studies of seismic and geological data have confirmed the existence of a large structure, named Pinotage, which is 272 sq km and is in 600 m of water. The agreement has an initial period of 18 months, which may be followed by three optional periods, which would extend the agreement to 7.5 years. Block 3B/4B covers 28,839 sq km and lies in 300-2,500 m of water. Neighbouring blocks are held by Sasol Petroleum International and Forest Exploration International (South Africa) (Pty.) Ltd. Recently, a 2D prospecting seismic survey covering 2,750 line-km was recently completed over the block.
Operators:
Azinam Limited: 40% interest
Ricocure: 60% interest