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Woodside and Noble grab Gabon offshore acreage

11th August 2014

Woodside Petroleum has acquired a 40 per cent participating interest, and Nobel Energy a 60 per cent operating interest, in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin

Woodside grabs Gabon offshore acreage
Woodside CEO Peter Coleman said the EEPSC was an opportunity for Woodside to secure significant acreage in a high graded emerging oil-prone province with a like-minded and experienced partner

Block F15 is located 140 kilometres off the south-western coast of Gabon and covers over 2,700 square kilometres. Water depths range from 2,300 to 3,000 metres.

Woodside CEO Peter Coleman said the EEPSC was an opportunity for Woodside to secure significant acreage in a high graded emerging oil-prone province with a like-minded and experienced partner.

“This is yet another exciting opportunity for us in Africa, building on recent acquisitions in Tanzania and Morocco,” said Coleman.

“Once again, this opportunity reflects our disciplined and strategic approach to studying regional petroleum systems and is a good fit for our core capabilities in deepwater exploration.”

Noble Energy has a 60 per cent participating interest in the EEPSC and will be the operator. The EEPSC has a seismic commitment and option for future drilling.

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