The Petroleum Agency of South Africa has announced the availability of open acreage in the Orange basin, South Africa. An evaluation period has been established to allow oil companies to evaluate the area using the 2D seismic acquired by PGS in 2002, under the terms of its exclusive agreement with the Petroleum Agency.
Newly delineated acreage offers valuable exploration opportunities in the deepwater Orange basin, South Africa, one of the few remaining prospective open areas in West Africa. A range of plays and leads are attracting strong interest from industry. With favorable license terms, there is an established local market for potential hydrocarbon discoveries.
In conjunction with the acreage on offer, new block boundaries have now been delineated. Applications for blocks are welcomed from oil companies starting Aug. 1, 2003.