Repsol Exploracion SA (Repsol) offering a farm out of up to 50% interest in its Gharb Offshore Sud exploration permit, northern Atlantic waters. The initial period expired in 8 May 2018.  Repsol holds a 75% operated interest, with ONHYM holding the balance.   Repsol Exploracion S.A. is a subsidiary of Spanish Repsol-YPF S.A.   Background information  On 26 September 2003, Repsol signed an agreement for the three exploration permits Tanger-Larache 1, 2 and 3 totaling 5,495 sq km and adjacent to and north of Maghreb Petroleum Exploration's Loukos Offshore exploration permit. The area extends to the latitude of Tangiers, with about half of the acreage on the shelf and half in deep waters. The three permits will be valid for eight years, including a first period of three years followed by two optional renewals of two years each.   Only one well was drilled in the area. Larache 1 was abandoned as a dry hole by Burmah in 1974, at a total depth of 2,390 m.   The area covered by the three permits assigned to Repsol was part of licensing round opened by the Office National de Recherches et dâExploitations PÃ©troliÃ¨res (Onarep) on 30 October 2000, with the assistance of IHS Energy. The Rabat-Safi Atlantic Offshore Segment had been divided in eight blocks. No details have surfaced yet on conditions of the recent agreement signed by Repsol. However, under the rules of the 2000 bid round, Onarep would have been entitled to hold a 25% interest in each exploration permit under JOA terms, with no signature bonus required, a 10-year income tax holiday applies, along with no royalty on initial production.   According to a study by H. Ed Denman, Richard Horscroft, Barry W. Eastland (TGS-Nopec) and Moundir Morabet (Onarep), based on preliminary results from recent seismic data tied two five DSDP, significant structures have been identified in the Rabat-Safi area, and the potential of the Jurassic slope deposits and Aptian turbidites is confirmed.   Repsol completed a 532 sq km 3D and 100 km 2D seismic program in the license on 28 March 2006. That survey has identified several high-potential prospects within a relatively short distance of the coast. On 30 March 2004, the company completed a 1,022 km 2D seismic survey with Fugro's S/V 'Polar Princess'.   Repsol ran seismic surveys in the block in 2004 and 2006, and additional 3D and 2D acquisition in 2008. In February 2007, Dana Petroleum plc effectively acquired a 15% interest from Repsol. Repsol has kept the operatorship and a 36% interest, Gas Natural SDG SA holds 24% while the state Onhym is carried for 25%. The Tanger-Larache license covers 3,568 sq km.   In March 2009, Repsol suspended its wildcat Anchois 1 in the Tanger-Larache exploration licence as a gas discovery. Two high quality gas-bearing sand intervals were encountered with a combined gas column of 90m including 40m net pay. Anchois 1 was spudded on 11 January 2009 in 380 m of water, at a location 60 km northwest of Ouled Ben Dech 2 gas discovery and drilled to TD of 2,435m. The PTD was 2,500m and the target was the Lower Pliocene and Upper Miocene biogenic gas. Dana estimates the reserves at 100 Bcf. Other prospects, namely Daurade, Merlan, Pageot, Turbot, Lkorb, Saint-Pierre, Sardine and Thon, have been identified from seismic. The Daurade prospect is probably one of the most interesting after Anchois.   In late April 2011, Repsol abandoned Thon Deep 1 wildcat in the Tanger-Larache exploration licence as a dry hole after reaching TD of 1,810m. The well was spudded on 19 March 2011 at water depth of 125m. the PTD was 1,760m and the objectives were expected at the Lower Pliocene turbiditic sandstones.  In early June 2011, Repsol abandoned the wildcat Merou 1 in the Tanger-Larache exploration licence, northern Atlantic waters as a dry hole after reaching TD of 2,030m. The well was spudded on 15 May 2011 at WD of 318m, using S/S âNoble Homer Ferringtonâ. Merou 1 well has a PTD of 1,968m and objectives in the Lower Pliocene turbiditic sandstones. Repsol, the operator holds 36% interest in the concession, Gas Natural SDG SA 24%, Dana Petroleum 15%, while Onhym is carried for 25%.  On 24 November 2011, Repsol completed its 3,096km 2D seismic survey over the Gharb Offshore reconnaissance permit, northern Atlantic waters. The survey started on 31 October 2010 with a plan to acquire 2,873km of seismic data over the area surrounding the Tanger-Larache Permit. The company was awarded the permit on 14 May 2010 with an initial period of one year that includes G&G work and the reprocessing and the reinterpretation of the available 2D seismic data.  Â Early September 2016, Repsol completed a 1,200 sq km 3D seismic survey over the Gharb Offshore Sud exploration permit. The survey started on 9 August 2016 and was conducted by PGS using the âRamform Atlasâ Vessel.
Repsol Exploracion SA (Repsol) offering a farm out of up to 50% interest in its Gharb Offshore Sud exploration permit, northern Atlantic waters. The initial period expired in 8 May 2018. Repsol holds a 75% operated interest, with ONHYM holding the balance.