The Mbeli Marin, Ntsina Marin, Manga Marin and Gnondo Marin blocks are situated west and north of the petroliferous Ogooue Delta complex. The Ogooue Delta complex is a proven hydrocarbon province, where over 2,000MMbbl of oil and 900Bcf of gas have been discovered since the 1960s.
The Group was awarded a 100% interest in the four deepwater blocks on 16 March 2005. The Government of Gabon has a 10% beneficial interest in three of the blocks (Gnondo Marin, Ntsina Marin and Mbeli Marin) and a 15% beneficial interest in relation to the Manga Marin block, in each case, upon declaration of commerciality.
The Group has carried out an extensive review of the regional petroleum geology and has made significant progress in understanding the source and migration risks, reservoir distribution and trapping mechanisms. A variety of prospect types have been identified across all four blocks allowing the Group to drill independent play concepts commencing with two to four wells using the “Deep Venture” drillship in 2008 which will focus upon Ntsina Marin and Manga Marin. Some of the prospects in Ntsina Marin and Manga Marin are very close to existing discoveries (which assists in reducing exploration risks) and infrastructure of third parties (which may improve the development economics of future projects if there is spare capacity in such infrastructure).
Ophir entered the second license term in Ntsina and Manga on 16 September 2007, taking on a well commitment in each. The 2008 drilling programme, consisting of the Frake Noir-1 and Ngollon-1 wells, will fulfil these commitments.
Extensions have been applied for, and granted, for the Mbeli and Gnondo PSCs. These extend the first term of both to 15 September 2009, at which point Ophir has the option to enter the second term or to withdraw from the PSC.