Australian oil and gas explorer Azonto has been given extra time to determine the potential of a prospect off the coast of Ghana.
The firm, along with partners Afex Oil and Ghana’s national petroleum company, have secured a six-month extension to its licence to explore the Accra block.
The project has already found high potential opportunities within the block, and the extension will enable Azonto to include the results from the Starfish-1 well drilled on the site to open up a new play in the field.
“The extension to the initial exploration period has created a low cost option to enable us to ensure that we take full advantage of this exciting opportunity,” said managing director Rob Shepherd.
“We are now able, together with Afex Ghana and GNPC, to properly assess the knowledge gleaned from the drilling of Starfish-1 and understand the implications on the broader prospectivity previously identified within the block.
“During the extension period, we plan to consider bringing in new partners to the joint venture and to that end, initial discussions with a number of potentially interested major industry partners have been encouraging and we are therefore confident that we can obtain a risk and reward exposure to this exciting high impact asset that reflects the size and strategy of the Company.”
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