The East African upstream sector has recently seen an important development that has led to important discoveries, such as the Anadarko offshore Mozambique discovery in February 2010.
Madagascar holds enormous under-explored reserves and has attracted major companies including Exxon Mobil (NW offshore), Total (W onshore – Bemolonga giant heavy oil-sand with proven 2.5 billion bbl – 20 billion bbl potential), Madagascar Oil (W onshore – Tsimiroro heavy oil field), Tullow Oil (SW onshore), Essar (SW onshore), Sterling (N offshore), and Sunpec (SW onshore – October 2009 oil discovery).
In 2005 OMNIS, the Madagascan National Oil Company awarded Amicoh Resources a licence for the exploration of Manja block 3108 located onshore on the west coast of Madagascar.
We are very pleased to announce that on 19th June 2008 Mocoh Resources acquired 100% interest in Amicoh. Through this acquisition Mocoh Resources can focus on its work program and develop its activities to confirm a multi-billion bbl oil potential in Manja 3108.
Block 3108:
Area: 7,180 km2 (after November 2009 relinquishment)
Award date: October 2005 (presidential decree November 2005)
Work Program:
Phase 1: Nov-05 to Nov-08 - Completed
Field studies, reprocessing of existing 2D seismic, acquisition of 500 km of new 2D seismic
Phase 2: Nov-08 to Nov-12 - Drill one exploration well - Undergoing
Phase 3: Nov-12 to Nov-13 - Drill two exploration wells
Relinquishment 35% after period 1; 35% after period 2. Refers to initial contract area less any exploitation areas
Existing work:
- 4,141 km of 2D Seismic data
- 5 wells drilled (not drilled deep enough at that time to penetrate the main Isalo sand objective)
- Sikily-1 well discovered gas (will be used for power generation)
Work completed:
- Gravity data acquisition
- Gravity interpretation with existing AeroMag
- Reprocessed 2,100 km of 1980s Amoco 2D seismic
- Integrated 357 km of additional 2D seismic from BP
- Completed EIA for new 2D seismic acquisition
- Completed 220 km of new 2D seismic
Current activity:
- Basin Modelling
- Definition of the petroleum systems with the determination of plays concepts and prospects identification
- Reserves estimates and associated risks
- Drill prospects definition for coming drilling campaign
Downloadable:
Parties interested in further information should contact:
Mocoh Resources Limited @ Tel: +41 22 310 94 01