Octant Energy plc is an East Africa focused oil and gas company with high impact near-term exploration assets in Kenya and Tanzania. Our licences have received heavy investment to date and the resultant, extensive, quality seismic database has materially de-risked these areas. The assets are located close to existing infrastructure, paving the way for near term production.
Octant owns 80% and is the operator of Block 1. More than $50 million has been spent on de-risking and proving up the licence to date, including; a number of geological studies and the acquisition of 1900kms of 2D seismic. The block contains numerous oil seeps and is adjacent to a sizeable gas and liquids discovery to the north.
These phenomena confirm the presence of a hydrocarbon basin and seismic mapping has defined drillable prospects in Block 1. Some of the seeps, most notably, the Tarbaj Oil Seep, have been referenced by geologists since the late 1950’s but no wells have yet been drilled in this region of Kenya.
Located in a coastal area, adjacent to the border of Kenya and Tanzania, this block has benefitted from significant work to date. Following the acquisition of 2500 km2 of gravity and magnetic surveys, 2226 kms of 2D seismic and over 1000 km2 of 3D seismic the Company is confident that the sub-surface geology contains significant hydrocarbons. The asset is drill ready and the Company plans to execute a drilling programme on the licence in the near term. The block benefits from numerous coastal access points and is adjacent to a major port, ensuring a discovery would benefit from a straight forward and high margin path to commercialisation.
The Tanga Block is located offshore Tanzania and comprises an area of 1,935 km2.