Wessex Exploration applies for renewal permit in Madagascar

offshore madagascar-ky chua flickrWessex Exploration has a beneficial interest of 70 per cent in the existing permit. (Image source: Chua/Flickr)Wessex Exploration has announced that it has applied for the renewal of the Juan de Nova Est permit, located in northwest Madagascar, for a five-year term

According to the company, it will also have the right to participate for a 50 per cent interest if such renewal is granted.

The group’s recent petroleum systems review reportedly shows a thick potentially prospective stratigraphic section in deep water in both the northern and southern triangles of the block that justifies renewal, Wessex Exploration said.

Accordingly, an application to renew approximately 4,500 sq km of the Juan de Nova Est permit has been submitted to the authorities in the region.

Wessex Exploration has a beneficial interest of 70 per cent in the existing permit.

Malcolm Butler, chairman of Wessex Exploration, said, “We are delighted that the results of the work undertaken on behalf of the group this year have supported an application for renewal of this permit. We are hopeful that the application will be successful and that we will then be able to participate in working up prospects in the Juan de Nova Est permit in 2014.”

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