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Rhino Resources increases its portfolio to the East and West of Africa

Thursday, 17 December 2015 14:51

(Ecofin Agency) - Rhino Resources has announced that it has been granted access to four offshore blocks in the East and West of Africa.

Indeed, the company was granted two offshore blocks; Blocks 17 and 24, in the Comoros territorial waters off Mozambique in November 2015 which totals 11,947 km² and are at present subject to approval by the National Assembly.

Blocks 17 and 24 is bordered by block R5-C in the Rovuma Basin, close to Area 1 and Area 4, where significant natural gas finds have been made by Anadarko and ENI.

Recent reviews of regional geological and seismic data, have showed that a potential oil play is believed to be present at the rim of the Rovuma Basin.

Meanwhile in June, 2015, Rhino Resources entered into a Product Sharing Agreement (PSA) for Blocks 3 and 4 in the AGC Senegal/Guinea-Bissau Cooperation Zone in West Africa which totals 5,500 km² and were approved by the High Authority in the same month. According to Petroleum Africa, Blocks 3 and 4 seems to be on the same deep water trend as the SNE-1 and FAN-1 finds in the north of Senegal.

However, the company’s current offshore assets comprises of two blocks in Namibia (one of them bordering the Kudu Field), two blocks in the AGC Senegal/Guinea-Bissau Cooperation Zone and two blocks in South Africa. Rhino is at the moment performing environmental impact assessments on the two South African offshore blocks, as well as five other onshore blocks in South Africa’s Karoo Basin.

 
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