Wessex steps up exploration plans for Mozambique Channel permit

Wessex Exploration has completed reprocessing of around 1,000 km (621 mi) of 2D seismic data shot over the Mozambique Channel by TGS-Nopec in 2006.

Offshore staff

BRISTOL, UK – Wessex Exploration has completed reprocessing of around 1,000 km (621 mi) of 2D seismic data shot over the Mozambique Channel by TGS-Nopec in 2006.

The program focused on the shallow water area of the 9,100-sq km (3,513-sq mi) Juan de Nova Est permit in the Northern Morondava basin in the Mozambique Channel, northwest of Madagascar. Wessex has a 70% interest in the concession.

The company is negotiating terms for re-interpretation of the data. Upon completion, the next step would be either a detailed new 2D seismic survey or a more focused 3D survey later this year in preparation for delineation of a drilling prospect in 2013.

This activity is in addition to continuing farm-in negotiations. Over recent months, interest in the permit has sharpened due to thegiant deepwater gas discoveries off Mozambique, across the Mozambique Channel.

As a result, several large oil and gas companies have signed confidentiality agreements with Wessex and are evaluating the data, including the newly reprocessed seismic.

5/31/2012

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