SAPETRO has a 90% participating interest in Juan de Nova Maritime Profond exclusive exploration permit, deep offshore Mozambique Channel in the TAAF (Terres Australes et Antarctiques Françaises).
The Juan de Nova permit area at the time of award was 52,990 km² and contains a substantial portion of a new deep-water exploration province adjacent to ENI and Anadarko’s recent discoveries in the Rovuma Basin exploration province offshore East Africa. It is adjacent to SAPETRO’s Belo Profond permit.
SAPETRO completed its 2-D seismic data acquisition programme in Juan de Nova with recording lines totaling 8,868 km as part of a multi-asset acquisition program totaling 12,256 km.
The seismic data indicates that the block contains substantial thicknesses of favourably structured Tertiary and Mesozoic sedimentary packages throughout the acreage resting on a large submerged continental crustal block. The entire area is effectively a ‘paleo-transform margin’ active from 170 to 90 MYA. Satellite remote sensing studies have indicated areas of potential hydrocarbon seepage which have been sampled for geochemical analysis as part of SAPETRO’s aggressive exploration programme.
More than 40 samples were collected for analysis. SAPETRO believes the combination of state-of-the-art broadband seismic data and geochemical analysis will establish unequivocal evidence of active petroleum systems in our Mozambique Channel acreage.
Based on results from the 2D seismic interpretation, in 2014 we acquired over 6,500 km2 of 3D seismic over two distinct areas of the permit. We are currently interpreting the data and look forward to progress the resultant prospects to drilling within the current tenor of the permit.
On 21 September 2015, the French government approved renewal of the Juan de Nova permit for a further five years through to 29 December 2018, following relinquishment of 50% of the previous acreage. The total acreage now stands at 29,628km2.