Offshore Exploration: The Future of Guinea-Bissau’s Energy Sector

The underlying offshore exploration potential of Guinea-Bissau has long been recognized given the country’s functional hydrocarbon system, good potential reserves, and several drillable prospects in a vast shallow water shelf setting.

According to the country’s national oil company Petroguin, Guinea-Bissau authorized international businesses to begin prospecting for hydrocarbons in 11 offshore blocks where oil is likely to exist since October last year.

Offshore exploration might be the future of the energy sector in Guinea-Bissau, with various projects underway to expand the country’s oil and gas sector.

Onshore Blocks 4 and 5

Onshore blocks 4 and 5 are licensed to the Equatorial Guinean corporation Ada Business GE Lta. Petroguin announced that it had signed a contract of association and participation with Ada Business GE Lta last September for “exploration, and exploitation of oil resources in blocks 4 and 5 on the mainland” of Guinea-Bissau.

AGC Shallow Block

The Agence de Gestion et de Coopération entre Le Sénégal et La Guinée Bissau (AGC) Shallow is only 100 km from Bissau and has sea depths ranging from 25m to 100m, with known oil between 50m to 70m. There are a total of 14 wells, however, only one has been drilled after the acquisition of 3D seismic data. The first 3D data was acquired in 1982 and re-shot in 2003. The most recent acquisition of 3D was in 2012.

Early wells in shallow reservoirs atop the salt-induced Flore Dome and Gea Dome have yielded significant amounts of oil. The AGC Authority is looking for offers of a future work program from interested parties who have reviewed all past data and can demonstrate competence to operate abroad. The AGC Authority will send additional information to interested parties explaining the block and its potential, as well as specifics on the awarding process.

The database, which includes both legacy data from past operators and more recent studies on shallow oil and reservoirs, has been given to Marine Geological and Geophysical Services to administer and license. The new data was used to conduct a study of existing wells and reprocessed seismic packages, which was then linked to potential commercial development options.

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Source: EnergyCapitalPower

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