Masters Energy Exploration and Production
(E&P) Company, a subsidiary of the Masters Energy Group, has been awarded
oil exploration block SL 7C-10, covering an area of 2,015 km2 in Sierra Leone.
The award was communicated to the company via an offer letter from the Petroleum
Directorate of Sierra Leone.
Block SL-7C-10 is located in water depths of 10–330 m in the
south, adjacent to block SL-7B-11, operated by Anadarko Petroleum and in which
the deepwater hydrocarbon discovery well Jupiter-1 is located. Two more wells,
Venus B-1 and Mercury-1, have also discovered hydrocarbons in the Upper
Cretaceous channel in the same block, an indication that the Cretaceous
sandstone and carbonate reservoirs sourced from Lower Cretaceous shale will be
prospective targets in SL-7C-10.
Announcing the award the president of the Masters Energy Group,
Uchechukwu Ogah, described it as a feat that has launched Masters E&P into
the limelight as it is milestone in the company's history. The company's E&P
group business executive, Casmir Onuoha, said, 'The award is a
big boost to the company's entrance into E&P.' He stated that bidding for
the block was keenly contested but the company came out tops through its
superior presentations. He added that the company is on course to achieve first
oil soon.
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© 2012 Menas Associates
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