Project Profile
Value: US$500 million
Location: former Jonglei State, South Sudan
Area: 25,150 square km
Reserves: >3 billion barrels of oil
Exploration start-up: March 2017
The Ministry of Petroleum and Oranto Petroleum signed an exploration and production-sharing agreement (EPSA) for Block B3 on March 6, 2017 in Juba.
Oranto, the technical operator with 90% stake, is next to start a US$500 million exploration and development campaign in the 25,150 sq. km block. Block B3 is part of the larger 120,000 square km Block B. In 2011 South Sudan gained its independence and Block B was split into B1, B2 and B3 blocks one year later.
The exploration programme is granted an initial 3-year duration period, during which the operator should complete an airborne geophysical survey, acquire and process 2-D seismic and assess existing data on the area.
No wells had been drilled before on the block but some aeromagnetic and seismic data is present. The block is described as “low risk, high reward” with highly prospective parts in the Muglad Basin to the northwest.
Operators:
Oranto Petroleum: Technical Operator with 90% interest
Nilepet: 10% interest