Africa Oil SA Corp. has let a contract to Environmental Impact Management Services (Pty) Ltd. to undertake a required environmental impact assessment for a drilling permit for proposed exploration activities in Block 3B/4B in the Orange basin off the western coast of South Africa.
The operator and joint venture partners plan to drill one well and one contingent well (and potentially up to five wells) within an area of interest in the northern section of the block, said partner Eco (Atlantic) Oil & Gas Ltd. in a release Mar. 21.
Earlier this month, RISC Advisory (UK) Ltd. released a report after reviewing exploration prospects within the block, noting total unrisked gross P50 prospective resources of about 4 billion boe. Probability of success is 11-39% over the 24 prospects identified.
Africa Oil and partners are in discussions with various potential partners to farm out up to a 55% gross working interest in the block, which lies about 180 km from the coast in water depths averaging 1,000 m.
Africa Oil SA Corp. is operator of the block with 20% interest. Azinam Ltd., a subsidiary of Eco Atlantic, holds 26.25%, interest, and and Ricocure (Proprietary) Ltd., holds the remaining 53.75%.