As part of the farm-out deal, BP has committed to cover Chariot’s cost of drilling the first exploration well in this block as well as past costs incurred, which have now been received.
As a result, Enigma now holds a 25% interest in the Southern Block 2714A, while Petrobras and BP hold a 50% and a 25% stake, respectively.
The block currently has 11 identified prospects, one of which – Nimrod – is due to be tested in the second half of this year with the drilling of the Kabeljou-1 exploration well.
