Malaysian national oil company Petronas has acquired a 30 percent stake in the Rufisque Offshore Profond exploration block in Senegal.
The farm-in agreement signed by Petronas subsidiary PC Senegal Ltd. with Total E&P Senegal SAS, a subsidiary of Total, marks the company’s first entry into Senegal.
The Rufisque Offshore Profound block covers 10,357 square kilometers offshore Senegal with a water depth ranging from 100 meters to 3,000 meters.
“Upon completion on the interpretation of the acquired 3D seismic data and once a prospect has been identified and evaluated, exploration drilling activities will commence in the Rufisque Offshore Profond block in 2019,” Petronas said in a statement.
Total is main operator of the block and holds a 60 percent stake and the national oil company of Senegal Petrosen holds 10 percent.
The Director General of Petrosen, Mamadou Faye will speak at the Africa Oil & Power conference in Cape Town on September 5-7.