LNG player Woodside said that it has finalised an agreement with Noble Energy and Glencore to farm in to the Tilapia Production Sharing Contract (PSC) off the coast of Cameroon.
The 3875 km² block is located within the Douala Basin, offshore southwest Cameroon in water depths ranging from the shoreline to 1100 m.
Under the agreement, Woodside will acquire a 30% non-operating interest. Noble Energy will retain a 46.67% interest and will continue to operate the PSC. Glencore will retain a 23.33% interest.
The Joint Venture plans to drill the Cheetah exploration well in 2015.
This farm-in agreement follows Woodside’s acquisition since July of new acreage in Africa in Gabon, Tanzania and Morocco.
Press Release, October 14, 2014; Image: Woodside