Fortesa signs Senegal PSA

Fortesa International Inc., Houston, and Petrosen, the national oil company of Senegal, have signed a production-sharing agreement for the Thies permit. The permit, which comprises 1 million acres along the western coast of Senegal, contains the 1997 Gadiaga gas discovery. Fortesa and Petrosen will jointly develop the find.


By the OGJ Online Staff


HOUSTON, Mar. 20
�Fortesa International Inc., Houston, and Petrosen, the national oil company of Senegal, have signed a production-sharing agreement for the Thies permit.

The permit, which comprises 1 million acres along the western coast of Senegal, contains the 1997 Gadiaga gas discovery. Fortesa and Petrosen will jointly develop the find.

The PSA provides for a 7-year exploration period. Within the first 3 years, Fortesa will collect 2D and 3D data, drill two wells, and build a 32-km pipeline to connect Gadiaga-2 discovery well to existing infrastructure. It expects to spend $8.3 million over the initial period.

Petrosen found several gas zones throughout the Gadiaga No. 2 wellbore in Cretaceous-aged intervals, said Fortesa. Two zones tested for extended periods at 5 MMcfd each.

The Gadiaga anticlinal structure is one of several similar structures along a trend that will be evaluated during the Exploration program, said Fortesa.

Gas produced from the Gadiaga discovery will be sold to the local power plant at Cap de Biches. Senegal currently uses imported hydrocarbons for electrical generation.

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