Continental Focus, International Reach

Harvest Continues to Evaluate Development Plans in Gabon

Wednesday, August 10, 2016

Harvest Natural Resources reported on its operations in Gabon on the Dussafu Project inQ2 report.  The third exploration phase of the Dussafu PSC expired on May 27. All expenditure commitments on this exploration phase have been completed

While the third exploration phase expired this did not have any effect on Harvest’s discovered fields under the Exclusive Exploitation Authorization (EEA). In March 2014 the JV partners approved a resolution that the discovered fields are commercial to exploit and a Declaration of Commerciality (DOC) was signed with Direction GeneraleDesHydrocarbures (DGH) pertaining to four discoveries. DGH awarded

In July 2014 DGH awarded an EEA for the development and exploitation of certain oil discoveries on the Dussafu Project and on October 10, 2014, the field development plan was approved.  The company has four years from the date of the EEA approval to begin production.

In its Q2 2016 report the company said that order to begin production by July 2018, the current project plan being considered is to develop the area surrounding our Ruche well first, followed by the development of the other fields and drilling selected high quality exploration prospects identified on 3D seismic. Operational activities during the six months ended June 30, 2016, included continued evaluation of development plans, based on the 3D seismic data acquired in late-2013.


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