South Atlantic Petroleum (SAPETRO) is a 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.
SAPETRO is 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, whilst building lasting and beneficial partnerships.
In Nigeria, we are interest holders in deep-water OML 130 and OPL 246, where production from Akpo field peaked at +180,000 bpd while adjacent Egina field is scheduled to come on stream in 2018 with 200,000 bpd peak production via a floating production storage and offloading vessel (FPSO) with a storage capacity of 2.3 million barrels.
Also in West Africa, we have a 100% operating interest in 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. Redevelopment drilling works carried out in Sèmè in 2014 and 2015 encountered some technical challenges which coupled with more than 50% decline in oil prices led to suspension of the project. SAPETRO is currently re-evaluating its options in Benin.
In East Africa we have majority operating interests in two adjacent deep-water blocks in the Mozambique Channel; the Juan de Nova permit area located in a French overseas territory, and Belo Profond permit in Madagascar.