Australian energy firm Woodside has acquired a 40% participating interest in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin.
Located 140km off the south-western coast of Gabon, Block F15 covers more than 2,700km², with water depths ranging from 2,300m to 3,000m.
Noble Energy operates the block with a 60% participating interest in the EEPSC, which has a four-year seismic commitment and a future option for exploration drilling.
Woodside CEO Peter Coleman said that the EEPSC is an opportunity for Woodside to secure significant acreage in a high graded emerging oil-prone province with a like-minded and experienced partner.
"This is yet another exciting opportunity for us in Africa, building on recent acquisitions in Tanzania and Morocco," Coleman added.
"Once again, this opportunity reflects our disciplined and strategic approach to studying regional petroleum systems and is a good fit for our core capabilities in deepwater exploration."
Commenting on Noble Energy’s production sharing contract (PSC) with the Gabon government for Block F15, Noble Energy senior vice president for Gulf of Mexico, West Africa and Frontier, Susan Cunningham said: "The Gabon PSC adds a large and exciting exploration opportunity to Noble Energy’s diversified global portfolio.
"We look forward to working with the Government of Gabon and our partner on this project, which has the potential to contribute significantly to the economy of Gabon, as well as to the local communities."
Image: Block F15 is located 140km off the south-western coast of Gabon. Photo: courtesy of Woodside.