Petroleum Africa
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Tuesday, May 19, 2015
Erin Energy (formerly CAMAC Energy) received executive approval to extend the initial exploration period for its blocks offshore the Gambia. The company gained an extra 24 months on Blocks A2 and A5, taking it to the end of 2018.
The work program includes the requirement to drill one exploration well in either block during the exploration period.
The Ministry of Petroleum has also approved and will issue the necessary permits to proceed with the company’s planned multi-client 3D seismic data acquisition on the blocks.
KaseLawal, Chairman and CEO of Erin Energy commented: “The extension of the exploration period of the A2 and A5 licenses is significant and allows us sufficient time to complete the 3D seismic acquisition on the blocks, develop strategic options for creating value for all stakeholders and to drill the exploration well. We are grateful for the support from the government of The Gambia and the staff of the ministry for their cooperation during the negotiations.”
Erin Energy is operator of the A2 and A5 blocks with 100% interest. The blocks are located approximately 30 miles offshore and on-trend with the recent FAN-1 and SNE-1 oil discoveries made by Cairn Energy, ConocoPhillips, Petrosen, and FAR offshore Senegal.
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