UK-based exploration firm Sterling Energy, has provided an update on activities in its Ambilobe and Ampasindava blocks, offshore Madagascar.
A 1314km 2D seismic acquisition program was completed on the Ampasindava Block in December 2013; the data will provide improved sub-surface imaging of the large Sifaka prospect, and potentially mature additional prospects in the Ampasindava block to drill-ready status.
Processing the new data has started. Sterling holds 30% interest in the Ampasindava PSC, which is operated by ExxonMobil Exploration and Production (Northern Madagascar) Ltd.
A proposal to extend the 2D acquisition program into the Ambilobe Block would have provided only limited new data, and therefore Sterling and its joint venture partner, Pura Vida Mauritius (Pura Vida), have started planning a 1250sq km 3D seismic program, to be acquired in 2H 2014. It is designed to identify a drilling location.
Under the terms of the farmout agreement with Pura Vida, all costs associated with the acquisition of the 3D seismic program, up to US$15 million, will be carrued by Pura Vida. Sterling and Pura Vida each hold a 50% interest in the Ambilobe Block, with Sterling as operator.
“The new 2D seismic data acquired on Ampasindava will facilitate the planning for an exploration well which is expected to spud in 2015 /16,” says Sterling executive chairman, Alastair Beardsall. “The more detailed 3D program being planned for Ambilobe will focus on maturing some of the identified leads into potentially drill-ready prospects.”