Woodside Petroleum has acquired a 40% participating interest in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin.
Block F15 is located 140 km off the south-western coast of Gabon and covers over 2,700 km². Water depths range from 2,300 to 3,000 m.
Noble Energy has a 60% participating interest in the EEPSC and will be the Operator. The EEPSC has a seismic commitment and option for future drilling.
Woodside CEO Peter Coleman said the EEPSC was an opportunity for Woodside to secure significant acreage in a high graded emerging oil-prone province with a like-minded and experienced partner.