The exploration license Agali, in which Oranje-Nassau Energie has a 50% working interest, is a large block offshore of Gabon. It covers some 4049 km2 (equal to the size of 18 UK North Sea blocks) in water depths varying from 20m to over 2500m, and represents part of ONE’s ongoing exploration and production operations in the emerging West Africa region.
High-prospect blocks identified by strong technological advances
The good 3D seismic database and excellent regional knowledge of the Agali block has led to a well-documented prospect inventory. The so-called Essoula prospect is by far the highest-ranking prospect in the block and is located in the middle of the disputed area.
The calculated reserves are 200-700 mln bls and the operator sees the geological chance of success as 39-41%. Major upside exists if similar oil trapping mechanisms are present to the recent major discoveries like Jubilee in Ghana, which exhibit good stratigraphic trapping components in broadly similar settings as in this deep water block.