Noble Energy, Inc. has signed a Production Sharing Contract (PSC) with the government of Gabon covering Block F15 in the Gabon Coastal Basin.
Woodside cooperation
Under the terms of the PSC, Noble Energy will be the operator of the block with a 60% working interest. Noble Energy's partner on Block F15 is Woodside Petroleum, who will have the remaining 40% working interest.
Block F15 is located approximately 140 km offshore Gabon and covers over 2700 km2. Water depths range from 2300 to 3000 m. The PSC includes a 4-year seismic commitment and a future option for exploration drilling.
Comments
Commenting on the contract award, Susan M. Cunningham, Senior VP - Gulf of Mexico, West Africa, and Frontier, 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. Several substantial subsalt leads have already been identified on the acreage, and we expect the prospectivity of the block will be enhanced as the work program progresses."
Adapted from press release by Katie Woodward