The Nigeria Sao Tome and Principe Joint Development Zone is an area of overlapping maritime boundary claims situated in the Gulf of Guinea that is being jointly developed and administered by Nigeria and Sao Tome and Principe. Block 4 is a 857 square km offshore block that will be operated by a consortium of Noble and ERHC Energy Inc. which was awarded a 60% equity interest in the block. Exploration on the block is to be conducted in three phases over a period of eight years.
Block 4 is an extension of the prolific Nigeria deepwater play where a number of world class oil discoveries have been made recently. Based on the interpretation of 3D seismic several large structures capable of containing giant size oil fields have been identified and mapped.
Mr. Said Arrata, CEO of Centurion, stated that he is very pleased with the award as it will expose the company to several very attractive oil exploratory opportunities in a new highly prospective basin.
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