Comoros approves offshore exploration and production

offshore comoros-QR9iudjz0 sxc.huDiscover Exploration has announced that its production sharing contract (PSC) covering offshore Blocks 35, 36 and 37 has been approved by Comoros government

The Parliamentary nod reportedly follows the signing of the PSC by the government of the Comoros in March 2013 in full compliance with the country’s international standard Petroleum Code ratified in December 2012 by the National Assembly.

The privately owned, geology-led, oil and gas exploration company specialises in deepwater petroleum systems.

The PSC license area of 18,000 sq km is adjacent to Mozambique Areas 1 and 4 and is located in the western part of the Exclusive Economic Zone of the Comoros, where there have been recent discoveries of giant natural gas accumulations by Eni in Area 4 and Anadarko Petroleum and its partners in Area 1, Discover Exploration said.

The parties to the PSC are Discover Explorer with 60 per cent interest and Bahari Resources with 40 per cent. The partnership is entering into a four-year exploration period and will shortly commence an extensive 2D in-fill seismic survey covering the PSC license area.

Michael Blaha, executive chairman of Discover Explorer, said, “Following the signing of our PSC by the government in March 2013, I am delighted that the National Assembly has now given our contract its approval.”

John Craven, CEO of Discover Explorer, added that the approval of the PSC by the National Assembly of the Comoros, signified the start of the exploration programme in our license area, covering the outboard part of the Rovuma Delta, bordering the highly prospective offshore Mozambique hydrocarbon province.

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