Production Sharing Agreement with State Oil Company Petrosen, effective July 18th 2013
3 Exploration periods (24 months, 36 months, 30 months)
Production period is maximum 40 years
|Interest:||51% with a proportional 10% carry for Petrosen, meaning a net working interest of 45.9% for TAOL (Remaining 49% held by Sencap Energy, a 100% subsidiary of Cap Energy)|
|Size:||4584 km2, Water depth: Up to 80 meters|
|Operator:||TAOL Senegal (Djiffere) ltd, 51% owned by Trace Atlantic Oil ltd.|
Block is covered by seismic data from different vintages :
-5 seismics lines acquired in 2011 and 2012
-3925 km (107 seismic lines) acquired and processed in 2014
Trace Atlantic Oil Ltd has acquired the Djiffere off-shore block late 2013.
The Cretaceous-Tertiary petroleum system was well identified and assessed on the coastal plain and offshore, as several positive wells were drilled during the 1970’s on the Senegalese shelf, including a major heavy oil discovery at Dome Flore (in the Senegal-Guinea AGC).
Two other undiscovered petroleum systems remain, and have the potential to be significant hydrocarbon objectives in the future:
- The Lower Paleozoic Total Petroleum System consisting of Silurian source rocks and Ordovician to Devonian and Triassic reservoir rocks
- The Pre-salt Total Petroleum System consisting of Permian-Triassic lacustrine source rocks and clastic reservoirs capped by Triassic salt.
Discoveries made so far are encouraging, and the acquisition of new data will be a part of TAOL’s strategy as current production and exploration data has been focused on the Cretaceous-Tertiary objective.