Pure progress for Moroccan oil

ON budget and ahead of schedule, Pura Vida Energy has completed the reprocessing of 3D seismic data for its Mazagan permit, offshore Morocco, confirming 7 billion barrels of prospective resources.
The data found direct hydrocarbon indicators at 13 targets in the Mazagan permit – including the Toubkal prospect, which has mean resource potential of 1.5bbbl.
Pura Vida has a 75 per cent share in the Mazagan offshore area as part of a joint venture with the Moroccan National Oil Company (25 per cent).
Of the 7bbbl found in the prospects, 5.3bbbl are net to Pura Vida’s interest in the permit.
Additionally, three new prospects (Tafraoute, Amtoudi East and Amtoudi West) were included in the estimate, adding 2.1bbbl to the prospective resource.
According to Pura Vida, the reprocessing was designed to bring together data acquired in the 3000 square kilometre survey in 2001 and new data, using the “latest techniques”. Pura Vida managing director Damon Neaves said he was optimistic about the results.
“Pura Vida has several prospects with an estimated chance of success of around one in three,” he said.
“Given the scale of these prospects, coupled with our high equity position, Pura Vida has a unique opportunity to generate extraordinary value in the farm-out and the drilling campaign.”
Pura Vida said in a statement that it had contracted EZDataRoom to conduct a farm-out process. Due to begin in early October, it said the process would “test the multi-billion barrel potential of the Mazagan permit” and would be a “transformational event”.

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