6. Shallow Water Cape Three Points Block (1500sqkm)
Contract Parties (Operator) Sahara and GNPC
Effective Date/Initial Exploration Period Effective Date: July 18, 2014 Initial Exploration Period(3 years): July 18, 2014 – July 17, 2017
Minimum Exploration Program (Initial Phase)
Conduct geological and geophysical studies
Drill one (1) Exploration Well
Minimum Expenditure $32,000,000
Observations as of 2017 The Company has defaulted in its work and financial obligations. The initial period ended in July 2017. It is not clear whether they will be given extension after failing to deliver on the block.
2019 Update The contractor did not fulfill the minimum work obligation in the first phase, which expired in 2017. The Ministry of Energy has not provided update on the status of the agreement. However, the map of the western basin still shows that the contract area is owned by Sahara.
2020 Update The Contractor did not undertake any activity in 2019.