The seismic data collected by Staatsolie and Maersk Oil during the end of last year and the beginning of this year is now being processed. Repsol YPF has processed all the data collected and is now preparing a 3D seismic evaluation of offshore block 30. This evaluation shall begin during the fourth quarter of this year and will enable parties to more easily drill an offshore exploratory well.
Repsol YPF, Noble Energy and Occidental will finance the cost of the intended seismic evaluation, more than US$ 15 million. These companies have recently formed a consortium, which is responsible for the further exploration of and eventual development in this block. Repsol YPF remains the operator responsible for the daily operations. Staatsolie and Repsol YPF closed a production sharing agreement for block 30 last year.
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