A Malaysian investment concern will take over as license operator and conduct a study of the Dome Flore heavy oil deposit in the Atlantic Ocean off Senegal and Guinea Bissau, West Africa.
The private Markmore Energy (L) Ltd., owned by Tan Sri Halim Saad, will fund a year’s study of the 1,699-sq-km block with an eye toward using steam-assisted gravity drainage on an estimated 800 million bbl of 10-13° gravity oil in place in shallow Oligocene reservoirs in 50 m of water 70 km offshore (OGJ Online, July 30, 2003).
Canadian consulting engineers would study the feasibility of employing SAGD, which Sterling Energy said “has achieved recovery rates above 40% in heavy oil operations in Canadian tar sands.” Sterling has 380 sq km of 3D seismic data over this part of the Casamance basin.
Markmore would also study new exploration prospects, fund a possible exploration well in 2006-07, and make a small initial signature payment.
Markmore will own 55% of the block and Sterling Energy 30%. The other 15% would be held by l’Entreprise AGC, a joint government commission that administers the maritime border zone between the two countries. The deal is subject to government approval. ✦
