South African-based independent African oil and gas company SacOil Holdings Limited and its OPL 233partners have commenced operations for the 3D Seismic Ocean Bottom Cable (OBC) survey, with mobilisation of equipment for the survey in progress.
Following mobilisation, the 3D OBC acquisition work is expected to commence early April 2014 and be completed by the end of July 2014, subject to operational contingencies and weather related issues. Finalisation of formalities for the seismic data processing contract is ongoing.
The timeline envisages full mobilisation to the site to be completed by the end of March 2014, according to a statement posted on the company’s website on Monday. To this extent, various equipment including the requisite gun boats and seismic recording cables have been delivered, whilst navigation equipment and seismic sensors are being air-freighted to compress the lead time to actual recording of data.
The company, which is listed on the Johannesburg Stock Exchange and London, in an update on its on-going operational activities in Nigeria and Malawi, said satisfactory progress has been made across the existing portfolio of exploration and appraisal assets.
The 3D seismic data will provide valuable subsurface information relevant for the quantification of the license’s resource potential, as well as the selection of an optimal drilling location.
The company expects the processing of the raw data and interpretation of results to be completed by third quarter of 2014. SacOil holds a 20 percent interest in OPL 233.
The company said it also continues to evaluate a number of opportunities to secure new value accretive acreage in established and prolific African hydrocarbon jurisdictions and basins.
In preparation for the scheduled 3D Seismic Data Acquisition project, the Environmental Impact Assessment (EIA) on the block, handled by Tidalflow Nigeria Limited, has been completed with both wet and dry season sampling carried out, the company said.
It stated that the Department of Petroleum Resources (DPR) has approved the result of the completed wet season sampling, while the dry season sampling is presently undergoing processing before being forwarded to the DPR.
“The Federal Ministry of Environment has also carried out the required site verification and EIA registration processes. The final report on the Seabed Hazard Survey by Epanoe Nigeria Limited has been delivered to, and accepted by the Joint Venture Partners as well as the field’s seismic data acquisition contractor, Geomarine Systems Limited, following successful completion of the work.”
FEMI ASU
