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Africa Oil Corp. AOIFF


Primary Symbol: T.AOI

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime), Impact Oil and Gas Ltd (Impact), Africa Energy Corp (Africa Energy) and Eco (Atlantic) Oil & Gas Ltd. (Eco). Prime is a Nigeria-focused company with interests in OML 127 and OML 130 that account for all of the Company's reserves and production. Eco is an oil and gas exploration company with interests in Guyana, Namibia and South Africa. Impact has interests in Namibia and South Africa.


TSX:AOI - Post by User

Comment by hikarion May 23, 2024 7:32am
208 Views
Post# 36053481

RE:RE:TOTAL ENERGIES TARGETS 180,000 BPD PRODUCTION

RE:RE:TOTAL ENERGIES TARGETS 180,000 BPD PRODUCTION



TotalEnergies plan for wildcat in South Africa’s Orange basin given a boost

Key government department approves drilling plan, with two conditions

TotalEnergies’ plan to drill a wildcat in South Africa’s part of the prolific Orange basin has been given a boost after a key government ministry approved the drilling operation, albeit with certain conditions.

The French supermajor is keen to explore the Deepwater Orange Basin (DWOB) block because it lies immediately south of its huge Venus and Mangetti discoveries in the basin’s Namibian waters.

South Africa’s ruling African National Congress and the Democratic Alliance party — which may end up forming a coalition government after this month’s elections — are both keen to see offshore exploration in the country, particularly off the west coast.

In October 2023, South Africa’s Department of Mineral Resources & Energy (DMRE) granted an environmental authorisation for the TotalEnergies to drill an exploration well — the first of up to 10 wells — in DWOB.

However, third parties had a right to lodge a formal appeal against the DMRE’s decision, with the Department of Forestry, Fisheries & Environment (DFFE) receiving its eight compliant appeals by the mid-November deadline.

On 6 May, SLR Consulting — which is handling the DWOB environmental approval process on behalf of TotalEnergies — said that DFFE approved the drilling plan, with two conditions.

One is that the drilling plan will be stopped if a shipwreck or archaeological site is discovered during pre-drilling seabed surveys.

The second condition requires the appointment of a liaison officer to keep coastal communities informed of the drilling activities at regular intervals and who would be available to address questions and concerns.

TotalEnergies debut DWOB well will be drilled in a 9712-square-kilometre “area of interest” located between Port Nolloth and Hondeklip Bay, about 188 kilometres offshore at its nearest point and in water depths between 750 and 3100 metres
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