5. South-West Tano Block
Contract Parties (Operator) GNPC GOSCO, Heritage E&P, EXPLORCO, Blue Star and
Effective Date/Initial Exploration Period Effective Date: February 5, 2015 Initial Exploration Period (2.5 years+2 years extension): February 5, 2015 – August 4, 2019
Minimum Exploration Program (Initial Phase)
Reprocess up to 175sqkm of 3D data
Drill one (1) Exploration Well
Minimum Expenditure $80,000,000
Observations as of 2017 The initial Exploration phase has been extended by 2 years due to ITLOS. Geophysical and Geological (G&G) studies are ongoing for prospect evaluation.
2019 Update The Contractor has informed the PC of its plan to drill its first exploration well, Asanfena-1X in Q3 2020. Contractor began the process of procuring goods and services for the well.
2020 Update Drilling of well may be deferred to 2021 due to the CODVID-19 pandemic.