Savannah Petroleum on Wednesday announced that it has entered into a framework contract with BGP Niger to provide 2D and 3D land seismic acquisition services regarding the R1/R2 and R3/R4 Product Sharing Contract (PSC) license areas on the Agadem Rift Basin in South east Niger.

The Company expects works under the contract to begin in H1 of 2016, Energy-pedia reports.

The blocks covers a c.13, 655km² area, signifying about 50% of the original Agadem permit which was obligatorily handed over by CNPC in July 2013. Between 2008 to 2014 CNPC made 93 finds on the original Agadem permit from 124 exploration wells which had a 75% success rate, thereby revealing a 2P reserve base of 975 million barrels.

Evaluated by CGG Robertson, the R1/R2 permit contains 1,191 million bbls best estimate gross risked recoverable prospective resources, across both the Sokor Alternances and the Yogou formations which contains 556 million barrels and 635 million barrels respectively.

8% of the R1/R2 permit is concealed by modern 3D seismic, whereupon Savannah has recognized 14 drill-ready exploration prospects with an aggregate 259 million barrels gross mean unrisked resource potential. Savannah has also discovered 37 exploration leads along the Northwest and Northeast sides derived from 2D seismic data of changing vintages, with a variety of mapped closure sizes related to current finds in the basin.

Meanwhile 29 leads have been currently mapped based on both modern and legacy 2D seismic data on the R3/R4 permit also with variety of mapped closure sizes related to current finds in the basin.

Anita Fatunji