Bd toolkit west africa

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Petroleum Services.
The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the
findings, conclusions and recommendations that Derrick Petroleum Services delivers will be based on information gathered
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Petroleum Services can accept no liability whatever for actions taken based on any information that may subsequently
prove to be incorrect.
1

3. Table of Contents
Introduction ................................................................................................................................................ 4
Major / Integrated ....................................................................................................................................... 5
BG Group plc .......................................................................................................................................... 6
BP plc ...................................................................................................................................................... 8
Chevron Corporation............................................................................................................................. 10
ConocoPhillips ...................................................................................................................................... 12
Eni SPA ................................................................................................................................................. 13
Exxon Mobil Corporation ..................................................................................................................... 16
Galp Energia ......................................................................................................................................... 19
Hess ....................................................................................................................................................... 20
Lukoil Oil Company ............................................................................................................................. 21
Marathon Oil Corporation ..................................................................................................................... 22
Murphy Oil ............................................................................................................................................ 24
Repsol YPF ........................................................................................................................................... 25
Royal Dutch Shell PLC ......................................................................................................................... 27
Statoil ASA ........................................................................................................................................... 29
Total SA ................................................................................................................................................ 31
Large E&P .................................................................................................................................................. 34
Anadarko Petroleum Corporation ......................................................................................................... 35
Canadian Natural Resources ................................................................................................................. 38
Inpex Corp............................................................................................................................................. 39
Nexen Inc. ............................................................................................................................................. 40
Noble Energy ........................................................................................................................................ 41
Tullow Oil plc ....................................................................................................................................... 43
Mid-sized E&P ........................................................................................................................................... 47
Afren plc ............................................................................................................................................... 48
Cobalt International Energy Inc. ........................................................................................................... 52
Heritage Oil PLC .................................................................................................................................. 53
HRT O&G ....................................................................................................................................... 54
Lundin Petroleum .................................................................................................................................. 56
Maurel & Prom ..................................................................................................................................... 58
PA Resources AB .................................................................................................................................. 60
Premier Oil ............................................................................................................................................ 62
SOCO International plc ......................................................................................................................... 64
Small E&P .................................................................................................................................................. 66
BowLeven PLC ..................................................................................................................................... 67
Chariot Oil & Gas ................................................................................................................................. 69
ERHC Energy Inc. ................................................................................................................................ 70
Exile Resources Inc. .............................................................................................................................. 72
First Australian Resources (FAR) ......................................................................................................... 73
Hyperdynamics Corporation ................................................................................................................. 75
InterOil Exploration and Production ASA ............................................................................................ 76
Mart Resources Inc. .............................................................................................................................. 77
Ophir Energy plc ................................................................................................................................... 78
Panoro Energy ASA .............................................................................................................................. 80
Petrel Resources PLC............................................................................................................................ 82
Rialto Energy Limited ........................................................................................................................... 83
ROC Oil ................................................................................................................................................ 84
Sterling Energy plc ................................................................................................................................ 86
Tower Resources ................................................................................................................................... 87
2

4. Vaalco Energy Inc. ................................................................................................................................ 88
NOC ........................................................................................................................................................... 90
CNOOC Limited ................................................................................................................................... 91
Korea National Oil Corporation (KNOC)/Dana Petroleum .................................................................. 93
KUFPEC ............................................................................................................................................... 95
MOL Group ........................................................................................................................................... 97
OAO Gazprom ...................................................................................................................................... 98
ONGC ................................................................................................................................................... 99
Petrobras.............................................................................................................................................. 100
Petronas ............................................................................................................................................... 102
PetroSA (Pty) Ltd. ............................................................................................................................... 104
Sasol Limited ...................................................................................................................................... 106
Sinopec Corp. /Addax Petroleum........................................................................................................ 108
Private E&P .............................................................................................................................................. 113
African Petroleum Corp Ltd ............................................................................................................... 114
Amni International Petroleum Development Company Limited ........................................................ 115
CAMAC Energy Inc. .......................................................................................................................... 116
Kosmos Energy LLC .......................................................................................................................... 118
Maersk Oil........................................................................................................................................... 120
Oranto Petroleum ................................................................................................................................ 122
Oriental Energy Resources .................................................................................................................. 124
Perenco S.A. ........................................................................................................................................ 125
Rocksource .......................................................................................................................................... 127
Svenska Petroleum .............................................................................................................................. 128
Vanco Energy ...................................................................................................................................... 130
Others (Utility/Industrial/Trading) .......................................................................................................... 131
Conoil Plc............................................................................................................................................ 132
Edison SpA ......................................................................................................................................... 133
GDF Suez SA ...................................................................................................................................... 134
Mitsubishi............................................................................................................................................ 135
Oando Plc / Equator Exploration ........................................................................................................ 136
RWE Dea AG ...................................................................................................................................... 138
Sojitz Corporation ............................................................................................................................... 139
Vitol BV .............................................................................................................................................. 140
Appendix 1- Short Profiles ...................................................................................................................... 142
Appendix 2- Deals in Play ........................................................................................................................ 147
3

5. Introduction
The BD Toolkit – West Africa Report is a must-have for business development and new ventures professionals working on
deals in West Africa.
The report provides detailed profiles of 70+ companies with significant upstream operations in West Africa. The detailed
profiles have been categorized according to company type: Major/Integrated, Large E&P, Mid-sized E&P, Small E&P, Private
E&P, NOC and Others (Utility/Industrial/Trading). Each detailed profile contains basic company information, information on
upcoming exploration activities and development projects, a map of producing assets, comments on focus areas for
business development, and a list of historical transactions in West Africa.
In Appendix 1, summary profiles of 40+ companies with minor upstream operations in West Africa have been provided.
In Appendix 2, all E&P assets currently available for sale in West Africa have been listed.
The data for this report has been sourced from
 Derrick E&P Transactions Database
 Derrick Planned Exploration Wells Database
 Derrick E&P Projects Database
 Derrick Companies Database
 Rystad Energy UCube
4

6. Major / Integrated
5

7. BG Group plc
Key Information
Company Category Major/Integrated
Origin Country United Kingdom
Market Capitalization ($B) 81.12
No. of employees 6,191
Production (MBOE/d) 646
Address Thames Valley Park, Reading, Berkshire, RG6 1PT
United Kingdom
Tel: +44-11-8935-3222
Web address www.bg-group.com
Operations
Upcoming Exploration Activities Producing Assets
 Block 332 is located offshore Nigeria.  No producing assets in West Africa.
Acquisition of 3D seismic was completed in
2007, followed by seismic processing and
interpretation, aimed at identifying drillable
prospects.
 OPL 286-DO is located offshore Nigeria and
contains an existing discovery, Boi-1. Two wells
were drilled (Ogide 1x and Boi-2), both of which
encountered non-commercial hydrocarbons.
New seismic data was acquired in 2009 and
processing commenced in 2010. Drilling is now
planned in 2011.
 OPL 284-DO is located in deep water, offshore
Nigeria. Full block reprocessing of the seismic
data is under way.
Development Projects
 No development projects in West Africa.
BD Focus
 Within Africa, BG Group is focusing on North Africa, in line with its strategy to source natural gas from cost
competitive markets and supplying it to high value markets, especially in Europe.
Transaction History
Year Transaction Asset Summary
2007 BG acquires 20% interest in Nigeria OPL 323 is located 80 km offshore in water depths of 1,300 to 2,000 metres.
deep offshore block from Equator Interpretation of regional 3D seismic data covering the block has identified
Exploration for $75m six large prospects. Horizon estimates the prospects to have aggregate
prospective resources of 4.8 billion barrels at the best estimate level.
2007 BG sells Mauritanian interests to PSC A covers Block 3 and shallow water Blocks 4 and 5. A gas field (Banda)
KUFPEC for $128m has been discovered in PSC A.
PSC B covers deep water Blocks 4 and 5. Five oil discoveries have been made
6

8. Year Transaction Asset Summary
in PSC B (Chinguetti, Tiof, Tevet, Tevet Deep and Labeidna). The Chinguetti
field commenced production in February 2006. However, production
declined quickly thereafter and on 31-December 2006, it stood at 22,160
bpd. The other discoveries are still under evaluation.
2006 BG acquires 45% interest in offshore Block 332 is located in water depths of 200-1,000m. The work program will
Nigerian block from Sahara Energy be carried out in two phases, the first involving the acquisition of 3D seismic
and one exploration well.
7

9. Large E&P
34

10. Anadarko Petroleum Corporation
Key Information
Company Category Large E&P
Origin Country United States
Market Capitalization ($B) 40.21
No. of employees 4,400
Production (MBOE/d) 643.83
Address 1201 Lake Robbins Drive, The Woodlands, TX 77380
United States
Tel: +1-832-636-1000
Web address www.anadarko.com
Operations
Upcoming Exploration Activities The well discovered oil in it. Teak-2 appraisal
well is planned to be drilled in 2011.Teak-2
 Block SL 07B-10 in Liberian basin is located appraisal well is planned to be drilled in 2011.
offshore Sierra Leone. In 2009, Anadarko As per Anadarko's Feb 2011 Presentation, three
announced a deepwater discovery at the Venus more prospects namely Banda
prospect, which confirmed the presence of an Deep/Cenomanian, South Central Channel and
active petroleum system in this frontier basin. A Dahoma Updip have been identified on the
second exploration well Mercury-1 was drilled block which are planned to be drilled from Q2
on the block in Q4 2010. The well encountered to Q3 2011.
oil in it. The consortium is planning to drill a
third exploration well on the Jupiter prospect in
Development Projects
H2 2011.
 Blocks LB-15, LB-16 & LB-17 covers an area of
3400, 3225, and 3150 sq Km respectively and  Tweneboa, located in the deepwater Tano
are located offshore Liberia. During 2009, a License offshore Ghana, was discovered on
6,000 sq km 3D seismic survey has been March 9, 2009, on Block 2 by the Tweneboa-1
completed on the blocks. A key target called exploration well. In January 2010, the
Montserrado (Cobalt) in Block 15 is planned to Tweneboa-2 appraisal was drilled to a depth of
be drilled in H2 2011. roughly 12,665 feet. The well discovered
 Block CI-103 is located offshore Cote d’Ivoire hydrocarbons in it. A mere 16 miles (25
and occupies an area of about 2,603 sq km. A kilometers) west of Tullow's Jubilee field,
600 sq km of 3D seismic survey was completed Tweneboa may prove a possible candidate for a
on the block in 2007. An exploration well is subsea tie-back to the Jubilee facilities. Two
planned on the Fan 4 West prospect to be appraisal wells Tweneboa-2 and Tweneboa-3
drilled in H2 2011.The upside resource potential were drilled in 2010 which encountered oil in
of the prospect is estimated to be about 230 them. Tweneboa-4 appraisal well would be
MMBOE. drilled in 2011 after which a high-impact well
 Block CI-105 is located offshore Cote d’Ivoire. Enyenra-2A would be drilled to appraise the
AN exploration well South Grand Lahou-1 was Owo oil discovery. The significant oil discovery,
drilled on the block in 2009. The well failed to made by the Owo-1 exploration well has now
encounter any hydrocarbons in it. One more been named the Enyenra field. The Company is
exploration well is planned to be drilled on the assessing the development options for the
Lower Bandama Channel prospect in H2 Tweneboa and Enyenra (Owo) fields in the
2011.The upside resource potential of the Greater Tweneboa Area.Producing Assets
prospect is estimated to be about 300 MMBOE.
 West Cape Three Points Block is located
offshore Ghana. The operator drilled an
exploration well Teak-1 on the block in Q4 2010.
35

11. Producing Assets
BD Focus
 Anadarko is an exploration- focused company. It spends as much on exploration (20% of 2010 capex) as it spends
on developing its megaprojects (22% of capex).
 West Africa, in particular the offshore areas stretching from Sierra Leone to Ghana, are a key component of its
global portfolio.
Transaction History
Year Transaction Asset Summary
2008 Addax Petroleum acquires Block 3 covers an area of 164,700 acres (667 sq km). The water depth ranges
additional 51% interest in JDZ from approximately 1,700m to 2,100m. As at December 31, 2008, the gross best
Block 3 from Anadarko estimate unrisked prospective oil resources for Block 3 were 273.3 MMbbl (87.3
MMbbl risked).
2009 Tullow Oil acquires 10% interest Blocks – SL-07 and SL-06/07 located offshore Sierra Leone. The blocks cover an
in two deepwater blocks area of 10,986 sq km in water depths of 50 to 3750 metres. An exploration well
offshore Sierra Leone from commenced drilling on the Venus-B prospect in the Block SL-06/07 earlier in
Anadarko August with the Belford Dolphin and is expected to take 45 days to drill. This is
the first deepwater well to be drilled in this region and represents an excellent
opportunity to prove a new petroleum system in the deepwater Liberian Basin
and significantly expand the western limit of the Jubilee play. The well is a
16,400 foot test targeting the deepwater cretaceous fan play. A large number of
follow up prospects have also been identified in this acreage.
2009 Tullow Oil farms out 40% Block CI-103 is located offshore Cote d’Ivoire and covers an area of 2,603 sq km.
interest in exploration block CI-103 is located immediately south of Block CI-102 in water depths of 200
offshore Cote d’Ivoire to meters and deeper. 3D seismic processing and reprocessing has been
Anadarko completed across the block and interpretation of the extensive Cretaceous
turbidite channels and fans, analogous to the Jubilee field, is nearing completion.
The block has gross upside potential of 500 mmbo.
2009 Tullow Oil acquires 25% interest Tullow Oil plc has concluded a farm-in agreement with Anadarko whereby
in three blocks offshore Liberia Tullow is acquiring a 25% interest in three blocks offshore Liberia - LB-15, LB-16
from Anadarko and LB-17. A large 3D survey is currently being acquired to delineate high
potential prospects identified on existing 2D data. Prior to the Tullow farm in,
Repsol and Woodside held 17.5% interest while Anadarko had 65% and
operatorship of each block.
36

12. Mid-sized E&P
47

13. Cobalt International Energy Inc.
Key Information
Company Category Mid-size E&P
Origin Country United States
Market Capitalization ($B) 5.33
No. of employees 56
Production (MBOE/d) -
Address Two Post Oak Central, 1980 Post Oak Blvd., Suite 1200, Houston, Tx
United States
Tel:+1-713-579-9100
Web address www.cobaltintl.com
Operations
Upcoming Exploration Activities  Diaba license is located 50 km offshore Gabon.
The license occupies an area of about 9,075 sq
 Block 21 (4,900 sq km) is located in the deep- km. Total and Cobalt have completed a 2D
water offshore south-central Kwanza Basin, seismic survey over the license in 2008. A large,
Angola. The block has oil potential of 500 6,000 sq km 3D seismic survey was completed
MMBOE(23-26 degree API). Cobalt International on the block in 2010. A number of prospects
Energy has identified about 13 prospects on have been identified on the license for drilling in
Block 21, out of which two prospects namely late 2012.
Bicuar and Cameia, would be drilled in 2011.
 Block 9 (4000 sq km) is located offshore Development Projects
Benguela Basin, Angola. The block has oil
potential of 400 MMBOE(25-28 degree API).  No development projects in West Africa.
The Company is planning to carry out a new 3D
seismic survey to delineate prospects to be Producing Assets
drilled in late 2012.
 No producing assets in West Africa.
BD Focus
 Cobalt’s strategy is to have material ownership in world-scale prospects. Its current focus is deepwater GoM and
pre-salt prospects in Angola and Gabon. The company is well capitalized and has $1 billion in cash.
Transaction History
Year Transaction Asset Summary
2008 Total sells 21.25% stake in Diaba permit covering an area of 9,075 sq km is operated by Total Gabon and is
Gabon block to Cobalt located fifty miles off the coast of Gabon with water depths between 100 and
International Energy. 3,500m.
52

14. Small E&P
66

15. Chariot Oil & Gas
Key Information
Company Category Small E&P
Origin Country United Kingdom
Market Capitalization ($B) 0.63
No. of employees -
Production (MBOE/d) -
Address Admiral Park, St Peter Port, Guernsey GY1 3EL,
United Kingdom
Tel:+44-20-7466-5000
Web address www.chariotoilandgas.com
Operations
Upcoming Exploration Activities  Blocks 2312A&B are located on an arch
between the Walvis and Luderitz Basins,
 Blocks 1811 A&B in total cover an area of about offshore Namibia. Chariot has completed over
10,926 sq km and lie in Namibia basin, offshore 3,000 line km of 2D seismic data acquisition
north Namibia. Reinterpretation of the seismic across these blocks. Following the processing
data has confirmed the presence of four main and interpretation of this data, the Company
structural leads in the Tapir Complex: Tapir announced that these licences contain 3.3
North, Tapir, Tapir South and Tapir Deep. billion barrels of unrisked prospective
Further seismic attribute analysis and resources. Three leads have been reported;
interpretation is ongoing. The existing inventory Klipspringer, Hartebeest and Oryx with a
consists of five prospects and two leads with a potential of about 4,318 million barrels. Further
resource potential of about 1,940 mmbls. 3D seismic acquisition is planned in 2011.
 Block 2714A, offshore Namibia covers an area of
5500 sq km. A further 3D seismic acquisition in Development Projects
block 2714A of approximately 1,500 sq km was
completed in September 2009. Currently  No development projects in West Africa.
processing and interpretation of 3D seismic data
is ongoing. The existing inventory consists of Producing Assets
seven prospects and one lead with an resource
potential of about 6,983 mmbls (gross).  No producing assets in West Africa.
BD Focus
 Chariot is currently looking to farm-out interests in its Namibian properties (in addition to the Petrobras farm-out
already done) to further mitigate risk and finance its exploration activities.
Transaction History
Year Transaction Asset Summary
2009 Petrobras acquires 50% interest Block 2714A covers an area of approximately 5,500 sq km and is located in the
in exploration block offshore Southwest African Coastal Basin, between Orange and Luderitz sub-basins,
Namibia from Chariot Oil & Gas offshore southern Namibia. A 3D seismic program of 1,000 sq km was concluded
by Enigma in the block earlier. The processing and interpretation of these data
were ongoing in May 2009. A further 3D seismic acquisition in block 2714A of
approximately 1,500 sq km was completed in September 2009.
69

16. NOC
90

17. CNOOC Limited
Key Information
Company Category NOC
Origin Country China
Market Capitalization ($B) 102.04
No. of employees 4,019
Production (MBOE/d) 895.9
Address No. 25 Chaoyangmenbei Dajie, Dongcheng District, Beijing, 100010,
China
Tel: +86-10-8452-1604
Web address www.cnoocltd.com
Operations
Upcoming Exploration Activities miles) and is in water depths of 1,550m (5,085
feet). Front-end engineering and design (FEED)
 Exploration Block S covers an area of about for Egina field is underway. The field is expected
2,287 sq km and is located, offshore Equatorial to start production in 2013.
Guinea. Two exploration wells, Anduak-1 &
Akeng-1, were drilled on the block. Both the Producing Assets
wells did not encounter any hydrocarbons and
were plugged and abandoned.
 OML 130 covers an area of about 500 sq km and
is located in the deepwater region of Niger
Delta. The license contains the Akpo field, which
was discovered in 2000. Besides Akpo, OML 130
contains three other significant discoveries
Egina, Egina South and Preowei. The license also
contains a range of further exploration
prospects.
Development Projects
 Egina field is located in Niger Delta. The field
covers approximately 1,295 sq km (500 square
BD Focus
 As an offshore operator, the prolific deep waters of West Africa are a key region for CNOOC.
 CNOOC is likely to be an aggressive acquirer in West Africa over the coming months. However, it has suffered two
setbacks in its BD efforts - the failed attempt to acquire Marathon’s stake in Block 32, Ghana, and Kosmos’s stake
in the Jubilee field, Ghana.
 CNOOC has identified 23 licenses in Nigeria in which it would like to buy stakes, including 16 operated by Shell,
Chevron and Exxon Mobil which are up for renewal.
91

18. Transaction History
Year Transaction Asset Summary
2009 [Cancelled] CNOOC and Sinopec Block 32, covering an area of 5,090 sq km, is an oil rich deepwater exploration
jointly acquire 20% interest in block with 12 oil discoveries. The block is located about 150 km off the coast in
Block 32 offshore Angola from a water depth of 1400 to 2200 meters. Twelve previously announced
Marathon Oil for $1.3b discoveries on Block 32 include: Gindungo, Canela, Cola, Gengibre, Mostarda,
Salsa, Caril, Manjericao, Louro, Cominhos, Colorau and Alho. Conceptual
development studies are underway in order to establish the feasibility of a first
development area in the central southeastern part of Block 32. The block is
estimated to contain 1.4 billion barrels of oil reserves, the production of which
is slated to start in 2012.
2006 CNOOC acquires 45% interest in OML 130 covers an area of approximately 500 square miles in the Niger Delta
Nigerian license from South and is a deep water block with water depths ranging around 1,100 m to 1,800
Atlantic Petroleum for $2.268b m. OML 130 contains the Akpo field, which was discovered in 2000. Besides
Akpo, OML 130 contains three other significant discoveries Egina, Egina South
and Preowei. The block also contains a range of further exploration prospects.
2006 CNOOC acquires 35% interest in OPL 229 (1,376 sq km) is located in the central Niger Delta, in water depth
Nigerian oil block for $60m ranging from swamp in the northwest to over 100 feet to the south of the
block. OPL229 is still in the exploration stage.
92

19. Private E&P
113

20. African Petroleum Corp Ltd
Key Information
Company Category Private
Origin Country Nigeria
Market Capitalization ($B) -
No. of employees -
Production (MBOE/d) -
Address AP House 54/56 Broad Street P.O Box 512, Lagos,
Nigeria
Tel: +234-1-260-0050
Web address www.africanpetroleum.com.au
Operations
Upcoming Exploration Activities of 2,668 sq km. The government of Gambia has
approved the agreement and the extension of
 Blocks 8 and 9 are located offshore Liberia the initial exploration period for each of the
covering approximately 7,200 sq km with blocks by a further two years, expiring
licenses extending from the shallow inner shelf December 31, 2013.
to the deep offshore region. APCL in completing
a full geological model for Blocks 8 and 9, which
Development Projects
will include the interpretation of 3D seismic
data and the identification and ranking of  No development projects in West Africa.
potential drill targets.
 Block A1 and Block A4 are located offshore Producing Assets
Gambia. The blocks cover a combined total area
 No producing assets in West Africa.
BD Focus
 African Petroleum’s blocks in Liberia and Namibia are in a region that is of much interest to many larger
companies. African Petroleum could do a farm-out to finance some of its exploration activities.
Transaction History
Year Transaction Asset Summary
2010 African Petroleum to acquire Alhamdulilah License Block A1 and License Block A4 are located in offshore
60% interest in two blocks Gambia. The blocks cover a combined total area of 2,668 sq km.
offshore Gambia.
2010 Global Iron acquires two Blocks 8 and 9 are located in offshore Liberia. The blocks cover approximately
exploration blocks offshore 7,200 sq km with licenses extending from the shallow inner shelf to the deep
Liberia from African Petroleum offshore region, covering depths of 200-3500m.
for $435m.
114

21. Others
(Utility/Industrial/Trading)
131

22. Conoil Plc
Key Information
Company Category Oil Products Marketing
Origin Country Nigeria
Market Capitalization ($B) 0.17
No. of employees -
Production (MBOE/d) -
Address Bull Plaza 38/39, Marina PMB 2052, Logas,
Nigeria
Tel:+234-1-266-5880
Web address www.conoilplc.com
Operations
Upcoming Exploration Activities Development Projects
 Block 4 in the Joint Development Zone (JDZ) is  Agge-3B T1 well is located In OML 136, offshore
located 200 km off the coastline of Nigeria and Western Nigeria. A Total and Conoil JV
Sao Tome & Principe. Block 4 covers an area of discovered several gas bearing reservoirs
approximately 211,700 acres. An exploration totaling a gross thickness in excess of 150m.
well on Kina prospect was spudded in August Studies are ongoing to assess further
2009. Analysis of drilling data is ongoing. development options for the Agge-3BT1 well,
 OPL 257 License (372 sqkm) is located 150km together with other discoveries on the block.
offshore Nigeria, with water depths ranging
from 1,600 to 1,800 meters. First exploration Producing Assets
ends in 2011 and comprises the acquisition and
processing of 400 sq km of 3D-Seismic and the  No producing assets in West Africa.
drilling of two exploration wells.
BD Focus
 Conoil is Nigeria’s foremost marketer of refined petroleum products. Upstream is a minor part of its business
portfolio.
Transaction History
Year Transaction Asset Summary
2008 Total to acquire 40% interest in OPL 257 license covering an area of 372 sq. km, OPL 257 is located some 150 km
deep offshore Nigeria license offshore Nigeria, in water depths ranging from 1,600 to 1,800m.
from Conoil.
2007 Total acquires 40% interest in Oil Mining Lease (OML) 136, offshore Nigeria, covering an area of 1,295 sq km,
Nigeria offshore block from OML 136 lies around 60 kilometers offshore in water depths of 80 to 300m.
Conoil
2007 Conoil awarded two blocks in Conoil has won two blocks, OPLs 290 and 2007 with signature bonus of $105
Nigeria for $215m million and $110 million respectively for the two blocks. The company paid the
mandatory 50 percent of the fees for the blocks.
132

23. Short Profiles
Acarus Investments, Namibia
Acarus Investments (Proprietary) Ltd is a private company based in Namibia. The company holds 20% interest in Blocks
2914A, 2814B and 2813A, offshore Namibia.
Aker ASA, Norway www.akerasa.com
Aker ASA was awarded an 85% interest in South Deepwater Tano Block, offshore Ghana in 2008 along with Chemu Power
Ltd. However, the Government of Ghana invalidated the company’s exploration and development license in 2009.
Al Thani Corporation, United Arab Emirates www.thanigroup.com
Al Thani Investments is a privately held oil & gas exploration company based in Dubai, United Arab Emirates. In 2006, the
company was awarded Block CI-105 in Cote d’Ivoire. It farmed out 22% of its interest in the block to Tullow Oil in 2007.
Arcadia Petroleum Limited, United Kingdom www.arcpet.co.uk
Arcadia Petroleum is a London-based oil and oil products trading company. In 2007, it acquired an 85% interest in Blocks
1910A, 1911 and 2011A, offshore Namibia from Tower Resources.
Bayelsa Oil Corporation, Nigeria
Bayelsa Oil Corporation is based in Lagos and operates a marginal field in Nigeria.
BHP Billiton, Australia www.bhpbilliton.com
BHP Billiton is the world’s largest diversified natural resources company. In West Africa, the company holds a 75% interest in
Blocks 2813A and 2814B (Northern Blocks) and Block 2914A and adjacent acreage (Southern Blocks), offshore Namibia.
Brittania-U Nigeria Limited, Nigeria www.brittania-u.com
Brittania-U Nigeria Limited is a privately held company based in Nigeria. The company has upstream operations in Ajapa
Marginal Field in Nigeria and is also engaged in petroleum products and marketing.
Buried Hill Energy Limited, Cyprus www.buriedhill.com
Buried Hill Energy Limited is a small Canadian firm, which is registered in Cyprus and sponsored by former Canadian prime
minister Jean Chretien. It has project locations in Cyprus, the United Kingdom, Canada, Gambia and Turkemenistan. In 2006,
the company signed a production sharing contract for two blocks A1 Alhamdulilah and A4 in Gambia. It farmed out 60% of
its interest in the blocks to African Petroleum in January 2010.
Challenger Minerals Inc, United States www.challengerminerals.com
Challenger Minerals Inc is a wholly owned subsidiary of Transocean Inc. The company holds upstream assets in the Gulf of
Mexico, North Sea, West Africa, SE Asia. In 2010, it was awarded 100% interest in Offshore Accra Contract Area in Ghana.
Centrica Plc, United Kingdom www.centrica.com
Centrica plc is primarily a utility company, but has growing upstream interests, especially in North Sea. In West Africa it
holds 60% interest in shallow offshore Block OPL 276 and onshore Block 283 in Nigeria.
Dana Gas, United Arab Emirates www.danagas.ae
Dana Gas is a regional private-sector natural gas company based in Sharjah, United Arab Emirates. Its operations span
throughout the Middle East and North Africa (MENA) region. It holds a 10% interest in Nigeria-Pincipe-SaoTome JDZ Block 4.
Del – Sigma Petroleum, Nigeria www.sigmanigeria.com
Del – Sigma Petroleum is a subsidiary of Sigma Technical Agencies and is based in Lagos and operates the Ke marginal field in
Nigeria.
Delek Energy Systems, Israel www.delek-group.com
Delek Energy Systems is an exploration and production arm of the Delek Group and is based in Israel. Delek Energy systems
holds oil & gas exploration and production rights mainly in Israel, the US, Vietnam and Russia. It held a 15% interest in the
Esperanca Blocks 4A and 5A and Sinapa Block 2 leases, offshore Guinea Bissau, which it divested to First Australian
Resources in 2009.
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24. Deals in Play
Deal in play Country Summary
ExxonMobil to exit Angola Block 31 covers an area of 5,349 sq km and lies in water depths of between 1,500
Block 31 and 2,500 metres. A total of 19 discoveries have been made in Block 31 with a total
resource of 2 billion oil-equivalent barrels. The common development of the first
four discoveries in the northern part of the block - Plutao, Saturno, Venus and
Marte (PSVM) was approved by the concessionaire in July 2008. First oil is expected
in Q2-2012 with plateau production of about 150,000 BO/d. PSVM will comprise a
converted hull FPSO with 1,600,000 barrels of storage capacity; 48 production, gas
and water injection plus infill wells; 15 manifolds and associated subsea equipment;
170 kms of flowlines and 95 kms of control umbilicals. Work is also ongoing to
pursue the development of SE-PAJD (Hub 2), comprising the Palas, Astraea, Juno
and Dione discoveries. Expected production from the Hub 2 is 150,000 BO/d by
2012.
INA-Naftaplin to exit Angola INA-Naftaplin, a subsidiary of MOL Hungary, is planning to exit Angola. INA has one
Angola exploration and three production concessions in Angola. As of May 2010, Proved +
Probable reserves - 10.6 MMBOE and Total production - 3,860 BOE/d.
Block overview
-- Block 3/05(4% interest) contains six producing oil fields- Palanca, Pacassa, Bufalo,
Impala, Impala SE and Pambi-3/05. During October 2010, Sonangol (Operator)
completed drilling operations and had put two wells (Pac-410 & Pac-412) in
production;
--Block 3/85(5% interest) contains two producing oil fields, Cobo and Pambi-3/85;
Cobo license got expired recently and the license for Pambi-3/85 expires in early
2011;
-- Block 3/91(5% interest) block contains one producing oil field, the Oombo
satellite; The contract for this block expires at the end of 2012.
Maersk Oil and Svenska Angola Maersk Oil Angola AS and Svenska Petroleum Angola AB offer an opportunity to
to farm-out interest in participate in an imminent exploration drilling programme to be carried out in
two blocks offshore Blocks 8 and 23, offshore Angola. Farm-out process is currently being prepared by
Angola FirstEnergy Capital LLP. The blocks are located in Kwanza Basin and cover a
combined area of approximately 9,700 sq km. Current participating interests in the
blocks are Maersk Oil (50%, Operator), Svenska (30%) and Sonangol (20%). Water
depth in Block 8 is up to 500m and in Block 23 up to 1,500m.
VAALCO Energy seeks Angola VAALCO Energy Inc announced that it has begun working with the government of
partner for offshore Angola to obtain both a replacement partner to Block 5, offshore Angola and a time
Angola block extension for the drilling of the commitment wells for the block, in early 2010. If
the company is successful in obtaining the extension and a replacement partner,
VAALCO expects to commence drilling two exploration wells in the first half of
2011. The company has acquired approximately 1,700 sq km of seismic data over a
portion of block and has identified drilling objectives. Current participants in the
block are: VAALCO (40% operator); InterOil (40%) and Sonangol (20%).
Subsequently, in Oct-2010, Sonangol and the Ministry of Petroleum approved a
one-year extension for the drilling of the two commitment wells. The company
estimates the drilling of the two Block 5 exploration wells will take place in the
second half of 2011.
Bowleven to sell 20% Cameroon Bowleven plc is offering interested parties the opportunity to join them at an early
interest in exploration stage in their Bomono Permit (2,328 sq km comprising Blocks OLHP1 & 2) situated
permit onshore in the Douala Basin, onshore Cameroon. Bowleven owns 100% interest and
Cameroon operates the permit through its wholly owned subsidiary EurOil Limited. Envoi has
been retained by Bowleven to assist the company in this process. Bowleven is
offering up to a 20% working interest in the acreage to a company or companies
willing to commit to funding of at least 100% of the cost of the acquisition of the
500 km program of new 2D seismic to be acquired commencing February 2010
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