Petroleum Africa
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Thursday, June 23, 2016
Wentworth Resources was named the operator of the Rovuma Onshore Concession in Mozambique. In addition, the Mozambican government approved the company’s appraisal plan for the Tembo-1 gas discovery made in 2014.
Under the two-year appraisal period, Wentworth becomes the operator of the concession and increases its participation interest in the concession from 11.59% to 85%. State owned ENH retains a 15% participation interest as a carried partner through to the commencement of commercial operations. In addition, ENH has the right to acquire a further 15% participation interest in the concession from Wentworth within 18 months from the date of submission for a development plan for consideration equal to the proportionate share of past costs incurred.
The work program approved by the government is set to commence this year with the reprocessing of approximately 1,000 km of existing seismic data. Wentworth said in H2 2017 the company plans to acquire a minimum of 500 km of new onshore 2D seismic data. The drilling of an appraisal well is anticipated to occur in 2018 after the identification of a suitable drilling location based on the evaluation and integration of the new and existing seismic data.
Previously Anadarko Petroleum was operator of the onshore concession partnered with Wentworth, Maurel et Prom, PTTEP, and ENH; however, at the expiry of the concession license in August 2015 all partners except Wentworth and ENH exited the block.
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