Malaysian oil and gas firm Petronas has signed a farm-in agreement through its PC Senegal division to acquire a 30% participating interest in the Rufisque Offshore Profond block from Total E&P Senegal.
Marking Petronas’ foray into Senegal, the farm-in agreement is part of the company’s upstream strategy to expand its exploration portfolio in West Africa.
Currently, Petronas operates an ultra-deep water block in Gabon, West Africa, and is planning for further exploration in the region.
The Rufisque Offshore Profond block spans 10,357km2 and has a water depth of 100m to 3,000m.
It is located adjacent to recent oil and gas discoveries in the St Louis Profond, Cayar Profond, and Rusfique Sangomar OffShore Deep (RSSD) blocks.
The Rufisque block is operated by Total, which has a 60% interest, while Société Nationale des Pétroles du Sénégal (Petrosen) holds 10%.
Total intends to retain operatorship after the completion of the transaction.
Interpretation of the acquired 3D seismic data is ongoing. After identification and evaluation of a prospect, exploration drilling activities will be started in the Rufisque Offshore Profond block next year.
In February this year, Petronas entered a similar farm-in agreement to buy 40% interest in each of FAR’s offshore petroleum licences Blocks A2 and A5. These blocks are located in the Gambia, West Africa.
FAR retains a 40% interest and continues to be operator of both licences. This includes drilling of the Samo-1 well, and Petronas holds an option to assume operatorship for the development.