Comoros: blocks 35, 36 & 37

Asset

Area

Working interest

Partner

Technical maturity

Seismic coverage

Blocks 35, 36 & 37

16,063 sq. km
(offshore)

65%

Tullow Oil (35%, operator)

Exploration

2D

Note: Interest is held through Discover's wholly-owned subsidiaries Discover Exploration Comoros B.V. and Bahari Resources Ltd

 

Introduction

Blocks 35, 36 & 37 are situated in water depths of 2,000+ meters and outboard of Mozambique's offshore Rovuma Areas 1 and 4 where in 2010-2012 ca. 200 Tcf of gas in place was discovered, the world's largest gas discovery in decades.

Despite the proximity to these significant hydrocarbon resources, the Comoros are unexplored: no oil and gas wells have ever been drilled in the country.

The Comoros have a modern Petroleum Code (2012) and offer attractive fiscal terms.

 

Operations

Following ratification of the PSC in 2014, Discover Exploration undertook a range of exploratory studies incl. the acquisition of 3,900+ km of 2D seismic data.

In 2019, Discover farmed-out to Tullow Oil plc (incl. operatorship).

The partnership will acquire a large 3D seismic survey in Q3 2019, the first ever in the Comoros.

Drilling of the first exploration well could occur in 2021.

 

Prospectivity

Based on the exploratory studies undertaken to date, the prospectivity of blocks 35, 36 & 37 is very significant.

Blocks 35, 36 & 37 are outboard of Mozambique's offshore Rovuma Areas 1 and 4, where ca. 200 Tcf of gas in place was discovered. Anadarko, ExxonMobil, Eni, CNOOC and Mitsui (and others) are currently building a multi-train onshore LNG plant and a floating LNG facility to monetise those significant gas resources.

In a CPR (Competent Persons Report) from 2018, ERCE, the UK-based independent energy consulting group, estimated that 2 partly stacked prospects in blocks 35, 36 & 37 together contain gross mean unrisked prospective resources of circa 7.1 billion barrels of oil (+1.1 Tcf of associated gas) in an oil case or 49 Tcf of non-associated gas (+2.3 billion barrels of condensate) in a gas case.

 

Oil case
Gross unrisked
prospective
resources

Oil
(mmstb)

Associated gas
(Bscf)
Chance
of
success
Working
interest
Low Best High Mean Low Best High Mean
Eocene 422 2,125 10,383 4,501 61 318 1,543 676 19% 65%
Cenomian 305 1,385 5,873 2,602 44 208 879 389 16%
Probabilistic
aggregation
448 2,341 10,324 4,545 70 355 1,576 723 27%

 

Gas case
Gross unrisked
prospective
resources

Non-associated gas
(Bscf)

Condensate
(mmbbl)
Chance
of
success
Working
interest
Low Best High Mean Low Best High Mean
Eocene 3,241 14,996 66,258 29,379 17 199 2,457 1,360 19% 65%
Cenomian 2,802 11,734 43,679 19,939 13 151 1,654 901 16%
Probabilistic
aggregation
3,934 17,826 70,664 31,968 23 277 2,724 1,332 27%

Notes:
1) "Gross unrisked" prospective resources are 100% of the volumes estimated to be recoverable from an accumulation. These are unrisked and have not been multiplied by a chance of success nor a chance of development.
2) "Chance of success" is an estimate of the probability that drilling the prospect would result in a discovery as defined under SPE PRMS.
3) "Probabilistic aggregation" accounts for dependent risks and the "chance of success" is the chance of finding one or more prospective layers.