3D Survey over OPL 233, Offshore Nigeria, Due to Start April

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South Africa-based junior explorer SacOil reported Monday that its partners have begun mobilizing equipment for a 3D seismic survey offshore Nigeria on the OPL 233 license. The move follows the completion of an Environmental Impact Assessment for the project as well as other preparatory work.

SavOil expects full mobilization to the site to be completed by the end of March. 3D seismic acquisition work is expected to begin in early April and be completed by the end of July.

The firm said that the seismic data will provide valuable subsurface information relevant for quantifying the license’s resource potential, as well as the selection of an optimal drilling location. The processing of raw data and interpretation of results is expected to be completed by the third quarter of 2014.

SacOil also reported that it has completed a satellite environmental screening study in preparation for a proposed exploration program over Block 1, which covers approximately 6,150 square miles across northern Malawi. The firm expects to have all environmental work on the block completed by 3Q 2014.

SacOil holds a 20-percent interest in OPL 233, offshore Nigeria, and 100 percent of Block 1, Malawi.



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