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SENEGAL 2020 LICENSING ROUND Houston 25 February 2020

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Page 1: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

SENEGAL 2020LICENSING ROUND

Houston 25 February 2020

Page 2: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Country Overview

Official name: Republic of SENEGAL.

Capital : Dakar.

Currency: Franc CFA (1 Euro = 655.96 Francs CFA and

1 US Dollar = about 550 Franc CFA).

Official language: French.

Area: 196 722 km²

Population : about15 millions

Main rivers: Senegal

Gambia

Casamance

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The Senegal sedimentary basin occupies the central part of the large North-Western African coastal basin called MSGBC (Mauritania – Senegal –Gambia – Bissau – Conakry), which extends from Reguibat shield in its Northern limit to Guinea fracture zone to the South.

Tectonic

The Cenozoic section contains many rotational faults and slumps often associated with reactivated fault structures.

The Northern Rufisque and Southern Mauritania sub-basins are characterised by two volcanic intrusive bodies of Miocene age, the Rufisque Dome and Cayar Seamount, along with Miocene age sills.

The Casamance Sub-basin is characterised by the presence of salt domes

MSGBC Basin

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Reservoirs

Maastrichtian reservoirs

Cenomanian / Albian and Aptian reservoirs

Miocene and Oligocene reservoirs

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Source rocks and Play concepts

Page 6: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Source rocks Example of seismic line in the southern basin

DSPD-367 show good TOC content in the

Cenomanian-Albian section from 8% to 28%

TGS

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Hydrocarbons Shows and Discoveries Diam Niadio in 1961

Many small oil and gas fields in the Maastrichtian section

Dome Flore & Gea in 1967

About 1 billion barrels of heavy oil in the Oligocene limestone

Gadiaga in 1976 / 1997

Very important gas reserves in Campanian and Senonian sandstones.

Sangomar Offshore Profond in 2014, 2017

4 oil & gas discoveries in the Cenomanian & Albian.

Saint Louis & Cayar offshore Profond in 2015, 2016, 2017

3 great gas discoveries in the Cenomanian & Albian

Page 8: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Oil Production

02000

400060008000

10000120001400016000

1800020000

Pro

duct

ion

(bbl

s)

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

years

Crude Oil & Condensate Production between 1987 and 2000

Condensate

Crude Oil

62.500 barrels of oil (34° API)

35.600 barrels of condensate

Page 9: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Natural gas Production

Diam Niadio : 235 000 000 cubic meters of natural gas (8,8 BCF) from 1987 to 2000

Gadiaga/Sadiaratou : 360 788 995,5 cubic meters of natural gas (about 13 BCF) October 2002 to end 2019

0

10 000 000

20 000 000

30 000 000

40 000 000

50 000 000

60 000 000

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

200

720

08 2

009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Prod

uctio

n (N

m3)

Page 10: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Natural gas network distribution

Page 11: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Oil and Gas Opportunities Overview Small onshore gas production, four oil discoveries and three gas discoveries offshore

Oil resources: about 2 billions barrels (SNE, FAN, FAN South and SNE North)

Gas resources : about 30 TCF (GTA, Teranga and Yakaar)

Proven oil and gas potential in the Cretaceous formations

Licensing round:

Process: Pursuant to Article 12 of the Petroleum code n°2019-03 of 24th January 2019, a Petroleum Agreement is to be entered into through an open, transparent and competitive public tender process

Offer : 12 offshore blocks

Timeline: about 6 months

Page 12: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

12 offshore blocks

Open blocks for Licensing

Name of the block surface

1Offshore Ultra Profond Nord 1 (OUP Nord 1)

2050 km²

2Offshore Ultra Profond Nord 2 (OUP Nord 2)

3751 km²

3Offshore Ultra Profond Nord 3 (OUP Nord 3)

6565 km²

4Offshore Ultra Profond Nord 4 (OUP Nord 4)

7827 km²

5Offshore Ultra Profond Nord 5 (OUP Nord 5)

7836 km²

6Offshore Ultra Profond Nord 6 (OUP Nord 6)

7808 km²

7Senegal Offshore Sud(SOS)

7921 km²

8Senegal Offshore Sud Profond(SOSP)

7653 km²

9Offshore Ultra Profond Sud -1(OUP Sud -1)

7 623 km²

10Offshore Ultra Profond Sud -2(OUP Sud -2)

7 647 km²

11 Saint Louis offshore profond 2 (SLOP2) 3 039 km²

12 Cayar offshore profond 2 (COP2) 1 627 km²

Page 13: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Deep and ultra deep offshore playWhy the Deep offshore and ultra deep offshore:

Presence of channel systems and;

Fan deposits

Page 14: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Deep and ultra deep offshore play

Saint Louis and Cayar Deep Offshore

(Kosmos Energy)

Page 15: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Dataroom is open on request at PETROSEN office to applicants for a quick assessment of the prospectivity of the offered blocks (contact [email protected]).

Detailed information on legacy data (2D and 3D seismic data, well data including logs, reports and geological, geochemical and geophysical report) in relation to the available blocks can be purchase through [email protected].

Data

Page 16: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

2D Data

NWAAM2012RE18• 28,000 km of which 4,073 km are in Senegal• Acquired 2012• Reprocessed 2018• 8 km streamer• 9 seconds record length• PSTM and PSDM available

NWAAM2017• 24,000 km of which 10,280 km are in Senegal• Acquired 2017• 12 km streamer• 14 seconds record length• PSTM and PSDM available

Data

Page 17: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

3D Data

Jaan• 30,000 sq.km of which 6,238 sq. km are in

Senegal over SOSS and SOSP• Acquired 2015 2019• Fast Tracks available now. • Final PSTM Q1-2020• Final PSDM Q2-2020

SS-UDO-19• 4,614 sq. km Acquired 2019• 12 x 112.5 x 8100m streamer• 11 seconds continuous recording• FT PSTM March 2020

SN-UDO-19• 5,191 sq. km Acquired 2019• 12 x 112.5 x 8100m streamer• 11 seconds continuous recording• FT PSTM May 2020

OUP-Nord-20• 2,040 sq. km In Acquisition• 12 x 112.5 x 8100m streamer• 11 seconds continuous recording• FT PSTM June 2020

Data

Page 18: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

MultiBeam & Seabed Sampling

114,000 sq. km MBSS data of which ~63,000 sq.km is in Senegal

260 targeted data driven piston cores, based on:• 709 Backscatter anomalies• 78 Water Column Anomalies

23 JPCs and Heat flow measurements

Data

Page 19: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Seismic data package

Seismic bid packages will be licensed at discounted rates ahead of 31st July 2020, that will include all MC data licensed by TGS and GeoPartners.

For those who bid and win blocks in the 2020 License rounds, all MC data over the block will need to be licensed (unless licensed beforehand).

Data

Page 20: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Bidding timeline

1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Lauching Nov 4th at the AOW

Road Show Cape Town / London / Houston / Dakar

Express of interest

Data Room and Data Licensing

Bids submission deadline 31 Jul

Public opening of the bids 31 Jul

Publication of the list of the participants 3 Aug

Bid Evaluation 3 to 31 Aug

Annoucement of successful bidders 1 Sept

Negotiations and award of blocks

Jul Aug2020

Activities Sept Nov2019

Nov Dec Jan Feb Mar April May June

Nov 5th at the AOW

Dakar, Londres, Houston

Page 21: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

Regulation

Page 22: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

RegulationNew Petroleum Code Terms

Page 23: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

The Potential

Hydrocarbons Discoveries & Shows (Diam Niadio, Gadiaga, Dome Flore, SangomarDeep Offshore)

Precense of Source Rocks : (Turonian, Cenomanian, Albo-Aptian & Silurian shales)

Multiples play types in the deep and ultra deep offshore

Potential for gas shales onshore

Why invest in Senegal

The Country

A stable and open Country

Modern and basic infrastructures

A healthy and competitive economy

Quality human resources

A legal framework and tax incentive

Privileged access to regional and international markets

Outstanding quality of life

Page 24: New 1 Road Show Houston Licensing Round February2020 · 2020. 2. 25. · 5xilvtxh'rph dqg &d\du6hdprxqw dorqj zlwk 0lrfhqh djh vloov 7kh &dvdpdqfh 6xe edvlq lv fkdudfwhulvhg e\ wkh

For more information please [email protected]

For more information please [email protected]

THANK YOU VERY MUCH