Ambilobe block

Location Offshore NW Madagascar, Indian Ocean
Area 17,650 km2
Joint Venture Pura Vida Mauritius (100% and Operator)
Water Depth 0 - 2,000 metres

Overview

 
Figure 1:  Location of the Ambilobe block
 
The Ambilobe block is located in the Ambilobe deep water basin, offshore north-west Madagascar.  A number of large Cretaceous and Tertiary leads have been identified, located in both shallow and deep waters, which require additional seismic data in order to develop them into potentially drillable prospects. 
 
The Production Sharing Contract (PSC) for Ambilobe is currently in the second phase of the exploration period (expiring July 2016).  All work commitments for the second phase have been fulfilled.
 
The acquisition of new seismic will allow for better imaging of reservoirs in the structures associated with the salt.  The technology has been proven to work worldwide and is consistent with the work Pura Vida has undertaken in Gabon and Morocco to better define prospects.
 
The Ambilobe block compliments Pura Vida’s portfolio of high quality offshore African exploration acreage targeting a range of different oil plays. 
 
Prospectivity  
 
The Ambilobe block has a variety of plays relating to salt with potential for large scale oil discoveries.  Pura Vida’s depth of knowledge relating to salt basins and how best to explore them makes the Ambilobe block a natural addition to the Company’s offshore assets in Morocco and Gabon.
 
Exploration onshore in Madagascar has already resulted in the discovery of numerous heavy oil fields (refer Figure 2) proving the existence of an abundant oil source.  Pura Vida believes that the large onshore discovered oil play extends into the Ambilobe block due to the oil seeps onshore on the eastern block boundary.  Due to the depth of the reservoirs in the offshore area, Pura Vida’s view is that any oil found in the area of the Ambilobe permit will be a light grade oil different to that found onshore. 
 
 Figure 2:  Prolific Eastern African discoveries and location of Ambilobe basin
    - note oil fields onshore Madagascar
 

Forward Plan 

The 2015 3D seismic final pre-stack depth migration data has been received and is now being interpreted and integrated with the existing 2D seismic data and regional interpretations.  The evaluation going forward will be focused on defining leads and prospects and building a portfolio with the aim to mature prospects to drill ready candidates ahead of a farmout campaign.

 

RESEARCH REPORTS