LONDON – Sterling Energy has completed acquisition of a 40.5% interest from operator Tullow in the production-sharing contract (PSC) for block C-3 offshore Mauritania.
The 9,800-sq km (3,784-sq mi) shallow-water PSC, awarded in 2013, is currently in the first phase of its exploration period, due to expire at end-June 2016.
Last year Tullow acquired 1,600 km (994 mi) of 2D seismic, currently under evaluation. Processing of the data will fulfil the minimum work obligation.
Following completion, the partners may opt to enter phases 2 and 3, each with a three-year term and a respective obligation to acquire 700 sq km (270 sq mi) of 3D seismic and one well.
Sterling says the block is in an underexplored area of the Mauritanian shelf region where there has been limited drilling and seismic acquisition. It is, however, on a multiple play exploration setting on trend with last year’s SNE-1 oil discovery offshore Senegal and Kosmos Energy’s deepwater Tortue gas discovery this April offshore Mauritania.