PDSL and Wildcat Petroleum deal covers 20 offshore oil blocks in Sierra Leone

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Overseas staff

UXBRIDGE, United Kingdom – Wildcat Petroleum (WCAT) has entered into a reconnaissance license agreement with the Petroleum Authority of Sierra Leone (PDSL) for 20 offshore oil blocks, covering a total area of ​​24,000 km2.

WCAT has a non-exclusive right to perform reconnaissance operations over a period of six months. It provides for a desk study, using previously acquired geophysical and geological data, to identify potential blocks for commercial oil discoveries.

The company would then request new negotiations with the Directorate of Petroleum Exploration and Production Licenses.

Within the acreage are two non-commercial oil discoveries, Mercury and Jupiter, drilled by Anadarko (now Oxy) and its partners Tullow and Repsol. Other wells off Sierra Leone drilled by Mobil, Amoco and Lukoil showed signs of hydrocarbons.

Results to date suggest a functioning offshore oil system, but all blocks have been abandoned due to a combination of disappointment and falling oil prices. Subsequently, as WCAT points out, drilling in the Guyana-Suriname Deep Basin has proven billions of barrels of petroleum resources in Cretaceous cones, and these may be tectonically and litho-stratigraphically related to the Conjugate Basin of Sierra Leone.

WCAT also noted that oil discoveries by Shell and TotalEnergies offshore Namibia earlier this year were both in deep-water Cretaceous fans.

Regarding the potential for Cretaceous deepwater games offshore Sierra Leone, African Petroleum has estimated, based on 3D seismic data on its (now derelict) deepwater blocks, potential resources of approximately 2 .5 Gbbl in many large stacked fans.

“We hope to recognize similar fans along the same ‘toe-slope/basin-bottom fan’ trend in our study area,” WCAT said.

06.08.2022

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