Guinea-Bissau Witnesses Offshore Revival as Apus Energy Spuds Historic Well
West Africa’s offshore exploration frontier has gained renewed momentum as Apus Energy successfully spudded the Atum-1X exploration well offshore Guinea-Bissau in September 2024. The well represents the first offshore drilling activity in the country in nearly two decades, marking a significant milestone for the region’s underexplored hydrocarbon basins.
Located near Senegal’s prolific Sangomar field, the Atum prospect holds potential recoverable oil reserves of 314 million barrels. The well is being drilled using the Ocean BlackRhino, a seventh-generation drillship operated by Noble Corporation, with well management provided by AGR, part of ABL Group.
Apus Energy acquired 100% interest in the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licenses through an $85 million farm-out agreement with Spanish company Petronor. The agreement included upfront payments for historical license costs and contingent milestones tied to government approval of field development plans and sustained production.
The licenses cover 4,962 square kilometres and contain two main prospects, Atum and Anchova, with combined estimated unrisked prospective resources of 467 million barrels. The drilling campaign positions Guinea-Bissau as one of West Africa’s most closely watched emerging plays, aligning with regional energy ambitions and presenting opportunities for investment, local capacity building, and energy security.
Source: worldoil.com
