Harvest Natural Resources signs DOC for Gabonese oil block

offshore-gabonHarvest Natural Resources has announced that it has signed a declaration of commerciality (DOC) with Gabon for the offshore Dussafu Block

Earlier, Gabon had awarded the company an exclusive exploitation authorization (EEA) for the development and exploration of oil discoveries on the Dussafu Block.

The EEA provides for exploitation of the pre-salt oil discoveries on the Ruche, Tortue, Moubenga and Walt Whitman prospects. These discoveries will be named, Ruche A, Ruche B, Ruche C and Ruche D respectively and collectively called the Ruche Field, the company said.

The proposed field development plan (FDP) includes a single floating production, storage and offloading vessel (FPSO) and sub-sea wells, which will be tied back to the FPSO. Once installed, the production infrastructure will allow for rapid and economic development of the full potential in the Ruche Field that will be appraised as part of the exploration plan. Harvest Natural Resources said that it will submit the proposed FDP within the next 90 days for sanction by the government of Gabon.

James A. Edmiston, CEO of Harvest Natural Resources, said, “The award of the EEA is a major milestone toward bringing the Dussafu Block into production. In addition, the area of the EEA should enable an efficient exploitation of the numerous defined undrilled structures immediately adjacent to all four discoveries and, as such, we expect the recoverable resources within the EEA to grow considerably in the coming years.”

Harvest Natural Resources holds a 66.66 per cent interest in the Dussafu Block through its wholly-owned subsidiary, Harvest Dussafu, B.V., and Panoro Energy ASA holds the remaining 33.33 per cent interest.

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