The company is a joint venture between Lime Petroleum (part-owned by Hibiscus Petroleum subsidiary, Gulf Hibiscus) and Petroci Holding, the state oil company of Cote d’Ivoire.
In early 2014, Masirah drilled the GA-South #1 oil discovery on the block, in the process proving a new petroleum system in the area.
According to Hibiscus, there were plans to perform an extended well test/early production program to improve understanding of the geology and petroleum system, but these were shelved as oil prices edged lower.
Late last year, Masirah commissioned a new 3D seismic survey over the block to increase its understanding of the geology around GA South #1, and fasttrack seismic interpretation and full processing have since been completed.
Subsequently, Masirah has conducted full seismic interpretation work to identify and rank drillable prospects, with the intent to start drilling during 2016.
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