Noble Energy signs agreement to explore offshore Gabon

Posted on 12 August 2014

Noble Energy has signed a production-sharing contract (PSC) with the Gabon government, covering Block F15 in the Gabon Coastal Basin. The PSC includes a four-year seismic commitment and a future option for exploration drilling. The execution of the PSC represents Noble Energy’s entry into Gabon.

Block F15 is located approximately 140 km (87 miles) off the coast of Gabon and covers more than 2,700 sq km (670,000 gross acres). Water depths range from 2,300 to 3,000 m (approximately 7,500 to 9,900 ft).

“The Gabon PSC adds a large and exciting exploration opportunity to Noble Energy’s diversified global portfolio. We look forward to working with the government of Gabon and our partner on this project, which has the potential to contribute significantly to the economy of Gabon, as well as to the local communities,” Susan M. Cunningham, Senior VP, Gulf of Mexico, West Africa and Frontier, said. “Several substantial subsalt leads have already been identified on the acreage, and we expect the prospects of the block will be enhanced as the work program progresses.”

Under the terms of the PSC, Noble Energy will be the operator with 60% working interest and Woodside Petroleum will have 40% working interest.

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