Guinea-Bissau

Jan. 30, 2007
State owned Petroguin let contracts to CGGVeritas and First Exchange Corp. to distribute information related to its third license round, which closes on Apr. 30, 2007.

By OGJ editors

HOUSTON, Jan. 30 -- State owned Petroguin let contracts to CGGVeritas and First Exchange Corp. to distribute information related to its third license round, which closes on Apr. 30, 2007.

The round covers land and offshore acreage.

Maastrichtian and Albian sands offer shelf-based opportunities in closures associated with salt diapirism. Modern salt imaging techniques could bring new life to this under-exploited play, where the petroleum system and reservoirs are certain and traps are yet to be found, CGGVeritas said.

On the shelf edge and slope, Cretaceous reefs offer further potential particularly where faulting that defines the shelf margin provides an additional trap-forming mechanism.