France awards permits in Mozambique Channel

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 ...

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