Seismic

Australia-based Pura Vida Energy has increased its stake in the Ambilobe block offshore Madagascar to 100%, and has taken over as operator after Sterling Energy (UK) withdrew.

It is reported that obtaining complete interest and operatorship of the block have opened new strategic options for Pura Vida.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Following the takeover as operator, Pura Vida now plans to progress towards drilling.

After completing final processing and interpretation, Pura Vida expects to perform a further review of prospectivity, including resource estimates.

At present, the Ambilobe block is in Phase 2 of the production sharing contract (PSC), which has been extended to January next year.

See Also:

The company completed all work commitments for this phase and next plans to enter Phase 3.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
"The additional interest together with the new PSC terms opens up the potential to significantly enhance the value of the block to Pura Vida."

During Phase 3, the company will drill one exploration well.

Pura Vida will perform works such as completion of processing and interpretation for the Ambilobe block by the end of this year.

In order to fund the drilling of the well, the company will begin a competitive farmout process.

The 3D seismic processing is nearing completion and the newly acquired seismic pre-stack depth migrated data will be integrated with existing 2D seismic data.

Pura Vida Energy managing director Damon Neaves said: "We are pleased to acquire 100% of the project and take over operatorship.

"The additional interest together with the new PSC terms opens up the potential to significantly enhance the value of the block to Pura Vida."

Image: Cretaceous aged leads mapped on 3D seismic. Photo: courtesy of Pura Vida Energy NL.