Gabon grants Nkembe block extension to Pura Vida

Pura Vida Energy, an Australian oil exploration company, has been granted a 12-month extension of the current exploration phase of the Nkembe production sharing contract (PSC), offshore Gabon.

The company holds a 100 percent stake in Nkembe production sharing contract, which contains the Loba oil discovery with 141m gross oil column.

Pura Vida said on Thursday that the extension is until January 2018 with no additional work commitments.

The company said in September that its core objective is to secure funding via a farmout deal, which will enable a near-term drilling program to commercialize the Loba oil field and other prospects withing the Loba complex.

Furthermore, the Australian company said its strategy in Gabon is focused on commercializing the Loba oil field which has the potential to transform Pura Vida from an explorer into a developer and producer.

According to Pura Vida, Loba field could contain 2c recoverable resources of 11.5 million barrels of oil, with a significant upside to more than 30 mmbo if other nearby prospects are included. The company also said that Loba may generate near term cash flow through fast-track development to bring on early production.

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply