Senegal/ Guinea Bissau

AGC Profond PSC

Background

The AGC Profond Production Sharing Contract (PSC) covers a large offshore block (9,838 sq km) which straddles the Senegal and Guinea Bissau border and has water depths extending from 50 to 3500 meters. It is governed by the Agence de Gestion et de Coopération entre le Guinée Bissau et le Sénégal (AGC), a joint commission established to administer the maritime zone between Sénégal and Guinea Bissau.

The AGC Profond PSC partnership consists of Ophir Energy plc (Operator, 44.2 per cent), Noble Energy (30 per cent) First Australian Resources (8.8 per cent), L’Entreprise AGC S.A. (12 per cent) and Rocksource AGC Profond AS (5 per cent).

Prospectivity and drilling

The AGC Profond PSC contains numerous structural prospects. Four of these prospects have been tested by acquiring CSEM across them. The results of processing and interpretation of these surveys revealed strong positive CSEM anomalies for three prospects.
Of these prospects Kora was the largest, and consequently it was decided to test this one with the first well. Drilling took place during July 2011, and the Kora-1 well did not prove any hydrocarbons. The strong CSEM anomaly appeared to be associated with a lithology that had vertical resistivity that is similar to what is normally measured in hydrocarbon filled reservoirs. The outcome of the Kora-1 well is likely to reduce the chance of success for several similar prospects mapped in the license.  

Seismic line with processed CSEM oven the Kora prospect.

Current Status

The current exploration period has been extended by one year, until September 2012. The licensees will by then independently have to decide whether to pursue to the next exploration period with the obligation to drill one more exploration well, or to drop the license.

Last update November 2011