Senegal and Eni they signed a memorandum of understanding to evaluate the oil and gas potential of five offshore blocks. The agreement includes a phase of technical studies aimed at expanding knowledge of these areas and defining their geological characteristics. The blocks included are with SN01M, SN02M, SN03M, SN07M and SN40M Eni will finance the analysis program with the aim of obtaining more detailed information on the subsoil and hydrocarbon potential of the selected areas.
Senegal and Eni will study the geology of five offshore blocks
The program includes geological and geophysical studies to expand the available information on the five offshore blocks. This work will allow for a more detailed analysis of the subsurface characteristics and provide new data on their oil and gas potential. The agreement also aims to improve the technical understanding of the Senegal sedimentary basin. This phase will serve to better characterize the areas before decisions can be made regarding any further exploration activities, Petros’s Senegal’s national oil company will play a significant role in the development of the basin, its participation is part of the country’s strategy to strengthen its capabilities within the oil industry hydrocarbons.
Senegal seeks to revive oil and gas exploration
The memorandum with Eni is part of the Government’s plans to revive oil and gas exploration and realize the potential of the Senegalese sedimentary basin, the Energy Minister said, El Hadji Abdourahmane Diouf he noted that the country is looking to take a new leap forward in exploration activity, in that context, Senegal plans to offer 109 oil and gas blocks for local and foreign investors, the agreement with Eni is part of a broader strategy aimed at attracting investment and obtaining more accurate information about the resources that could be found in the available areas.
Which offshore blocks will Senegal and Eni evaluate?
The studies will focus specifically on SN01M, SN02M, SN03M, SN07M and SN40M the technical evaluation will improve the geological and geophysical understanding of these areas and determine their potential for future exploration activities. For now, the memorandum establishes a preliminary analysis phase. This means that the evaluation of the blocks does not yet imply the development of new oil or gas production projects; the results will serve as a technical basis for defining the next steps in these offshore areas and determining whether they could be incorporated into future hydrocarbon exploration campaigns.
Source: Reuters
Photo: Shutterstock
