Adamantine Energy Seychelles, a wholly owned subsidiary of Adamantine Energy, has announced the signing of a Petroleum Agreement (PA) to formally acquire a 100% operated stake in two blocks offshore the Seychelles.
The blocks are the Beau Vallon and Junon blocks, which cover 9,700 sq km in water depths of up to 200 m. The Junon block is partially covered by a 1,500 sq km 3-D modern seismic survey.
"This transaction is the result of years of geological and geophysical review and analysis of the region by our team," said Chris Matchette-Downes, AESL Chief Executive. "This stake in the Beau Vallon and Junon blocks directly supports our strategy to be a key part of the delivery of the stable, secure energy resources the world needs today, and upon success will diversify the Seychellois economy while providing the nation critical energy security."
Adamantine said it will work closely with PetroSeychelles and its partners to unlock the hydrocarbon potential of the Republic of Seychelles.