Ex-Cove Energy Team Launches Africa-focused Explorer

Printer Friendly Version
Email this Page

Newly-launched sub-Saharan Africa focused oil and gas explorer Discover Exploration issued a statement Monday in which it outlined its strategy.

Discover said that it plans to participate in exploration and appraisal programs that focus on deepwater petroleum systems within young, emerging basins that have been de-risked through 2D and 3D seismic analysis. It will also, where appropriate, participate in multi-well drilling programs through farm-ins, farm-outs and acquisitions.

Discover's directors include the former Cove Energy management team. Cove, which was focused on Mozambique's Rovuma Basin, was acquired by Thailand's PTT Exploration and Production last summer after a hard-fought takeover battle that also involved Royal Dutch Shell.

The firm has already signed a production sharing contract (PSC) offshore Comoros Islands. The PSC license area is located over the outboard part of the Rovuma Delta, near to major gas discoveries by Anadarko Petroleum Corporation and ENI offshore northern Mozambique.

The initial work program for the PSC will see the firm acquire further 2D seismic data to that already acquired over the 6,900-square mile area. Discover holds a 60-percent stake in the PSC.

Discover CEO John Craven commented in a statement:

"I am very pleased to introduce Discover Exploration and its strategy, core to which is utilising the strong geo-technical expertise, industry contacts and successful track record of our board and management team to identify frontier oil and gas prospects, as we build a balanced portfolio of assets.

"The signature of this strategic PSC with the Government of the Union of the Comoros and Bahari Resources, covering the seaward section of the Rovuma Delta and bordering the highly prospective offshore Mozambique hydrocarbon province, presents a unique opportunity given its geographical and geological position."
 

 



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

Printer Friendly Version
Email this Page

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Jon Mainwaring
European Editor | Rigzone
 -  New Government Likely to Spell Positiv... (May 22)
 -  Galp Energia Sticking with Strategy fo... (May 19)
 -  Israeli Gas: Much Progress Ahead of UO... (May 15)
 -  Ithaca Issues Positive 1Q Results Upda... (May 14)
 -  Porcupine Prospect Could Contain 1.5B ... (May 12)


Most Popular Articles

From the Career Center
Jobs that may interest you
Regional Sales Lead
Expertise: Business Development|Sales & Marketing
Location: Houston, TX
 
Pipelay Project Mobilization/Demobilization Engineer
Expertise: Heavy Lift / Pipelay|Project Engineer|Project Management
Location: Houston, TX
 
Vice President of Sales
Expertise: Executive|Sales & Marketing
Location: MS
 
search for more jobs

Brent Crude Oil : $65.37/BBL 1.75%
Light Crude Oil : $59.72/BBL 1.64%
Natural Gas : $2.89/MMBtu 2.03%
Updated in last 24 hours