Genel Energy PLC will explore Lagzira block (formerly Sidi Moussa) offshore Sidi Ifni in Morocco after signing a petroleum agreement and association contract with the Office National des Hydrocarbures et des Mines (ONHYM).
Lagzira is a large offshore license in water depths of 200-1,200 m with a proven petroleum system following Genel’s 2014 SM-1 well, which recovered oil in fractured and brecciated cavernous Upper Jurassic carbonates from the Upper Jurassic reservoirs.
New multi-azimuth broadband 3D seismic acquired in 2018 by Genel resulted in a significant uplift and improvement in subsurface imaging, and prospects have been high-graded, with follow on potential in the wider area, the company said in a release Mar. 1. The data has highlighted new plays and provided an enhanced understanding of the SM-1 well result, it continued.
In total, 18 prospects and leads have been identified with over 2.5 billion boe mean recoverable prospective resource potential and individual prospects estimated at 100-700 million bbl each.
Genel Energy is seeking a partner to take a material equity position and jointly pursue exploration in the block by drilling and testing one of the high-graded prospects.
Genel Energy is operator of Lagzira with 75% working interest.
