The French government awarded two 5-year exploration permits to midsized oil companies to explore offshore Juan de Nova, a tiny island possession in the Mozambique Channel between Madagascar and Mozambique.
One permit was awarded to Marex Petroleum Corp., Houston, as operator, and Roc Oil Co. Ltd., Sydney. It covers 52,990 sq km, and a 12 sq mile area around Juan de Nova island is excluded. Water depth exceeds 2,000 m.
Promised financial outlay amounts to €47.3 million. The companies are committed to drilling a well in the fourth or fifth year of the permit and are planning preliminary 2D and 3D seismic exploration.
Another permit, Juan de Nova Est, in 500-2,000 m of water and covering 9,010 sq km, was awarded to Nighthawk Energy PLC operator, Jupiter Petroleum Juan de Nova Ltd., and Osceola Hydrocarbons Ltd., all of the UK. Promised financial outlays amount to €27.9 million.
The joint venture plans preliminary 2D and 3D seismic exploration and two wells within 5 years.
Some analysts foresee possible giant fields “as in Saudi Arabia” in that little known offshore area between Madagascar’s heavy oil fields on the east and Mozambique’s Panda and Temane gas fields on the west.
Norway’s TGS-Nopec was awarded a 2-year nonexclusive permit in 2003-04 and shot seismic data in the Mozambique Channel at a cost of some €1 million (see map, OGJ, Mar. 3, 2003, p. 36).
