Wessex steps up exploration plans for Mozambique Channel permit

Offshore staff

BRISTOL, UK – Wessex Exploration has completed reprocessing of around 1,000 km (621 mi) of 2D seismic data shot over the Mozambique Channel by TGS-Nopec in 2006.

The program focused on the shallow water area of the 9,100-sq km (3,513-sq mi) Juan de Nova Est permit in the Northern Morondava basin in the Mozambique Channel, northwest of Madagascar. Wessex has a 70% interest in the concession.

The company is negotiating terms for re-interpretation of the data. Upon completion, the next step would be either a detailed new 2D seismic survey or a more focused 3D survey later this year in preparation for delineation of a drilling prospect in 2013.

This activity is in addition to continuing farm-in negotiations. Over recent months, interest in the permit has sharpened due to the giant deepwater gas discoveries off Mozambique, across the Mozambique Channel.

As a result, several large oil and gas companies have signed confidentiality agreements with Wessex and are evaluating the data, including the newly reprocessed seismic.

5/31/2012

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