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Senegal / Guinea Bissau

AGC - Senegal / Guinea Bissau

  • An 85% participating interest (80% working interest if the AGC exercises the AGC back-in right) in the AGC Central, an offshore exploration area in water depths of 100 to 1,500 metres.
  • Oryx Petroleum is pursuing a carbonate edge play type in the AGC Central, a play type that other operators have pursued with success elsewhere in the Casamance sub-basin.
  • In early 2017 the acquisition of 1,921km2 of 3D seismic data covering a portion of the AGC Central license area was completed. Processing and interpretation was completed in late 2017.
  • 23 prospects in 6 structures identified with gross unrisked (100%) best estimate prospective resources of 2.7 billion barrels (risked: 204 MMbbl) estimated by independent reserves evaluator Netherland, Sewell & Associates, Inc. as of December 31, 2019.
  • Prospect ranking and selection is complete and an environmental impact assessment and a geohazard assessment are near completion. Initial preparations for an exploration drilling program are ongoing with drilling contingent on Senegal and Guinea Bissau agreeing on a long-term extension or renewal of the AGC accord.