Azonto Petroleum is looking for a further extension to a licence offshore Ghana where it has yet to finalize a farm-in partner for further exploration.
Originally Azonto was granted a six-month extension by the Ghanaian government for the Accra block until Sept. 23, to complete geophysical studies incorporating results from the Starfish-1 well. (see DI, 22 September 2014, page 12)
Now the company is in talks with the government over a further extension in order to allow more time for potential partners to review block data. Consequently Azonto has applied to the Minister of Energy for a further extension and discussions are currently ongoing.
The Starfish-1 well was drilled in June 2013 and Azonto says it encountered a stratigraphic reservoir and discovered possible evidence of residual oil in those sands. Remapping of previously acquired 3-D data over the area has been focused on both a shallow water syn-rift Albian play and on deeper water turbiditic and hinge-line plays. A data room was subsequently opened by Azonto in an effort to attract farm-in partners to the 2,000 sq km (772 sq mile) Accra block. Some parties remain interested in further reviewing the block data and the licence extension is being sought to allow more time for that to take place.
Azonto holds a 57% stake in the Accra licence, with Vitol E&P holding 43% and Ghana’s state company GNPC a 10% carried interest.
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