Dana Petroleum has commenced full 2D seismic operations in Bakassi West, 18 months after signing a Production Sharing Contract (PSC) for the block with the Government of Cameroon.
Bakassi West is situated in the Rio Del Rey Basin in the South West Region of Cameroon, adjoining the border with Nigeria, on the eastern margin of the Niger Delta. It covers an area of almost 390 km2. Around 350km of 2D seismic will be acquired over the next six months and the first exploration well is planned for late 2015 or early 2016.
John Downey, Dana’s Managing Director, Africa said: “Dana’s teams in both Aberdeen and Douala, its environmental advisor CIME, the seismic contractor BGP, Société Nationale des Hydrocarbures (SNH) and the BIR – a part of the Cameroonian security forces – have worked extremely hard to get this project to the seismic acquisition stage, which I’m very pleased to say is now underway. Our seismic base camps at Issobo are now fully operational thanks to the hard work and co-operation of all involved. We now have a workforce of over 400 people in Issobo, of which about 360 are Cameroonian nationals.”
Co-venturers in the Bakassi West PSC are Dana Petroleum Cameroon Ltd (55% and Operator), Madison Cameroon Oil and Gas Limited (35%) and SoftRock Oil and Gas Limited (10%).
About Dana Petroleum plc
Dana Petroleum plc, a wholly owned subsidiary of the Korea National Oil Corporation (KNOC), is an international oil and gas business with operations in the UK, Egypt, Norway, the Netherlands and Africa, producing 50,000 barrels of oil a day. Dana’s ambition is to become a leading international oil and gas company operating in Europe, Africa and the Middle East and aims to grow production significantly by investing around $1 billion a year to increase the size of the company and create value for our shareholder.
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