Noble Energy to explore Block I off Equatorial Guinea

By OGJ editors

HOUSTON, Sept.16 -- Noble Energy Inc. subsidiary Noble Energy EG Ltd., Houston, has acquired a 40% working interest in a production sharing contract covering Block I off Bioko Island, Equatorial Guinea, adjacent Noble Energy's Block O.

Block I covers 806 sq km in water deeper than 500 m. Noble Energy will be technical operator, and the Atlas Group, holding 60%, will be administrative operator. Equatorial Guinea's national oil company GEPetrol will have a 5% carried interest once commerciality is determined.

Noble said several substantial leads have been identified on Block I, and it expects prospectivity to be enhanced after processing recently acquired 3-D seismic later this year.