Activity status
On 23 September 2011 (and effective 1 January 2011), ROC agreed to sell all of its interests offshore Mauritania to wholly owned subsidiaries of Tullow Oil plc for US$4 million subject to working capital adjustments. The divestment will take place through the sale of three separate packages. The agreement and completion of each package is subject to normal industry terms and conditions, including the receipt of relevant joint venture waivers or approvals and all necessary government approvals. Progress continues to complete the transaction.
Exploration and appraisal
From 2001 to 1Q 2011, ROC participated in the drilling of 24 exploration wells and the acquisition of 10,960km 2D and 17,589km2 3D seismic.
To date there have been five oil and/or gas discoveries which are either commercial or potentially commercial:
- Chinguetti Oil/Gas Field in PSC B.
- Banda Gas Field in PSCs A&B (with some oil).
- Tiof/Tiof West Oil/Gas Field in PSC B.
- Pelican Gas discovery in PSC Block 7.
- Tevet Miocene Oil/Gas discovery and Cretaceous Oil discovery in PSC B.
Three appraisal wells were drilled on the Chinguetti Oil Field. Tiof has been appraised with five wells and one appraisal well has been drilled on the Tevet discovery. Two appraisal wells were drilled on the Banda Oil and Gas Field in 2008.
Appraisal/pre-development
The Tiof Oil & Gas Field in PSC B and the Banda Oil & Gas Field in PSCs A&B are currently being reviewed for possible further appraisal/pre-development activity.
Development and production
Development was completed at the Chinguetti Oil Field and production commenced on 24 February 2006. Two infill development wells were drilled in 2008.
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