Wednesday, 30 April 2014

OMV farms-in to Tullow Madagascar blocks


  • On 30 April 2014, OMV announced the acquisition of a 35% WI in Block 3109 (Mandabe) and Block 3111 (Berenty) from Tullow
    • Tullow will retain 65% WI and remain Operator
    • Block 3109: 2D to be shot in 2014
    • Block 3111: First well to be spud in Q1 2015
  • The acquisition continues OMV's strategy of "build[ing] up a new exploration business in the region of Sub-Saharan Africa"
    • In August 2013, OMV farmed into a 40% WI in Niko's Grand Prix PSC, offshore Madagascar (Niko 35% WI), EnerMad (25% WI)
    • In December 2013, OMV farmed into Ophir's exploration projects in Gabon:
      • Mbeli (10% WI)
      • Ntsina (10% WI)
      • Gnondo (30% WI)
      • Manga (30% WI)
      • 3D seismic is planned on all the licences in 2014, with 1 well to be drilled on each of Mbeli, Ntsina and Gnondo
    • In March 2014, OMV teamed up with Murphy Oil to acquire Blocks 2613A and 2613B, Namibia from Brazil's Cowan Petroleum; OMV acquired a 25% WI in the blocks, with Murphy taking 40% and Operatorship
      • OMV's head of exploration and production, Jaap Huijskes, said in a statement at the time: "Offshore Namibia offers great exploration potential as it is largely unexplored, yet has all the elements of an effective hydrocarbon system"

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