Guinea launches offshore bid round

20 June 2017, Week 24, Issue 694

Guinea launched its first offshore licensing round last week, at an event in Paris. The round will be opened in October of this year and is to run for six months. Awards are expected to be issued in October 2018. 

“This is an exciting time for Guinea. The recent successes in the Northern MSGBC Basin have increased the industry interest in this relatively under-explored region, and this chain of success will steadily and inevitably flow down south to us,” Office National du Petrole’s (ONAP) CEO, Diakaria Koulibaly, said in a statement.

“We currently have an active rig in our waters, drilling what we hope will be the first of many commercial successes,” Koulibaly continued.

The round is overseen by TGS NOPEC. The seismic company said it held around 14,000 km of modern 2D seismic on the offered blocks.

TGS announced work on the North West African Atlantic Margin (NWAAM) in October 2016, with the acquisition of 11,500 km of long-offset broadband 2D seismic data in Guinea and its neighbours. Work was undertaken in co-operation with PGS and GeoPartners. The work began in November of last year, using the BGP Dong Fang Kan Tan 1 vessel.

ONAP was launched in early 2016 and has focused, thus far, on early-stage work, such as training partnerships.

The Pacific Scirocco drillship arrived in the country in May, on contract to a US minnow, Hyperdynamics, and its Nigerian partner, South Atlantic Petroleum (Sapetro). The rig is to drill the Fatala 1 well, on a 5,000 square km block, at an estimated cost of US$50 million, while a second well could be drilled for around half that sum, Hyperdynamics said.

 

Hyperdynamics was previously working in the country with Tullow Oil and Dana Petroleum but, following a disappointing well result, the partnership fell apart acrimoniously.