South Atlantic Petroleum (SAPETRO) is an indigenous Nigerian oil and gas exploration and production company, focused on creating value in the pursuit of rewarding exploration, development and production opportunities in Africa. We have a balanced portfolio of assets which provide a strong platform for growth.
In Nigeria, we are interest holders in deep-water OML 130 and OPL 246, where the outstanding Akpo field has produced over 200 million barrels of condensate to date. The block’s second multi-billion dollar deep water project Egina, is expected to come on-stream in 2017.
Also in West Africa, we have a 100% operating interest in the Block 1 concession including the Sèmè oilfield, offshore the Republic of Benin. Sèmè field is a brownfield and has a long and proven production history stretching back 30 years. This is complemented by Block 1, in deeper water, which contains strong exploration prospects and resource potentials. Redevelopment works are current on-going with first oil expected in 2014.
In East Africa we have majority operating interests in two contiguous deep-water blocks in the Mozambique Channel: the Juan de Nova permit area located in a French overseas territory, and Belo Profond in Madagascar. We are currently the second largest operated acreage holder in all offshore East and Southern Africa and are well placed to play a leading role in one of the world’s major emerging hydrocarbon provinces.
SAPETRO remains focused on continued strategic growth in sub-Saharan Africa while building lasting and beneficial partnerships.