UK-based oil and minerals developer Elenilto has been named as operator of the Senegal Offshore Sud Shallow Oil block by the Senegalese government
According to the ruling, Elenilto will become the operator of the block and Petrosen, the national oil company of Senegal, will hold a minority stake in the project.
The block is 7,920 sq km and located in the Casamance offshore basin.
Elenilto has revealed that initial assessments, based on reprocessed 2D seismic coverage, has indicated a potential of 500-800mn barrels of oil in first priority leads. Other deeper possibilities have been also deemed likely and will be explored by Elenilto.
The company also said that it has selected two areas of interest as first priority for immediate exploration and will begin a 3D seismic survey shortly.
A statement from Elenilto revealed that it shall invest tens of millions of US dollars in exploration activity, which shall include the 3D seismic coverage and drilling wells in the shallow water block.
