Business
Sierra Leone Offshore Waters Opened to Tender
Sierra Leone Offshore Waters Opened to Tender.
About this update from Getech Group Plc
[{"type":"text","content":"\n \nRNS Number : 8128Z GETECH Group plc 22 May 2019 \n\nRNS REACH\nGetech Group plc\n(\"the Getech Group\" or the \"Company\")\n \nSierra Leone Offshore Waters Opened to Tender\n \nGetech (AIM; GTC) has worked with the Petroleum Directorate of Sierra Leone since 2016, delivering data management, capacity building and advisory services. As a partner in the planning and delivery of the Republic's Fourth Licensing Round, Getech's primary focus is to achieve a successful outcome to the re-opening of the Round and is actively engaged in the discussions with prospective investors. Getech also works in partnership with the Directorate to encourage all applicants to invest in the extensive inventory of geophysical and well data owned by the Government of Sierra Leone.\nConclusion of consultation, reopening of Fourth Licensing Round\nMr Timothy Kabba, Director General of the Petroleum Directorate of Sierra Leone has announced on behalf of the country's Government, the reopening of Sierra Leone's Fourth Licensing Round.\nFollowing the conclusion of a six-month industry consultation that was designed to collate international industry feedback and ensure the success of this round, companies are now invited to re-engage with the Fourth Licensing Round.\nThe consultation provided the Directorate with the evidence needed to structure this round in line with industry expectation and hence the Fourth Round will:\n· Fully open the Republic's offshore waters for petroleum licensing.\n· Utilise a more flexible Block framework as the basis for licensing.\n· Launch a Direct Tender for Licence Applications where 50% or more of the application area is in water depths in excess of 2,500 m.\n· Launch an Open Tender for all other Licence Applications.\nTo assist their evaluation of the hydrocarbon potential in these Blocks the Petroleum Directorate, supported by the Getech Group has set up Data Rooms in Freetown, London and Houston.\nThese facilities will allow potential investors to review:\n· Over 29,000 line-kilometres of 2D seismic data.\n· Over 11,000 kilometers2 of 3D seismic data.\n· 8 wells.\n· Extensive value-added studies and reports.\nThe deadline for Open Tender applications is 22nd No...