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.
SAPETRO has a portfolio of 6 assets in 5 countries spanning the full cycle exploration and production value chain. Our net acreage position is in excess of 74, 890 km², including production and exploration in deep-water offshore Nigeria and other interests in Benin, the Central African Republic (CAR), the French Territory in the Mozambique Channel (TAAF) and Madagascar.
In Nigeria, we are interest holders in deep-water OML 130 and OPL 246, where production from Akpo field is at +170,000 bpd while adjacent Egina field is scheduled to come on stream in 2017 with 2,000 b/d 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 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. Sèmè is planned to move into production at the end of 2014. 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 whilst building lasting and beneficial partnerships.