An Interview with Steven Noske Part 2/2

 

Originally posted August 26th, 2018

Steven Noske is an energy industry professional with over 30 years of experience in executive positions. Currently, Noske is a senior management consultant and the founder of Ausoco Energy Management.


What are the main Prospects and Leads in The Seychelles in your opinion?

 

The best assessment of the potential prospects and leads around the Seychelles comes from the work my team did from 2010 to 2015.  More than 30 leads and prospects have been mapped.

On the new SY10 seismic data (Fig 6).  Prospective resources for key leads are shown in Table 1.

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Figure 6 Prospects and Leads
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Table 1: Prospective resources for key, Upper Karoo – targeting, prospects and leads

 

Eastern Fairway – Junon Leads:

The Junon area leads on the eastern fairway are a priority for maturation to drillable status to test the potential of the eastern basin. These large features represent a series of high relief, fault controlled culminations on a prominent regional high. Junon South is the lowest risk and most robust feature on this high potential fairway, with follow-up potential in Junon South East and the Junon North leads. The resource potential for these leads are typically in the hundreds of millions of barrels range.

 

Western Fairway – Beau Vallon:

The Beau Vallon structures in the west are a series of large, relatively simple, very robust Karoo tilted fault blocks. These structures are covered by both vintage and SY10 dip line data. The greater Beau Vallon structure, divided into three main compartments with individual, mean closure areas ranging from 23 Km2 to 45 km2 and gross closure of 93 km2, has potential for Mean Prospective Resources of 0.9 Billion BBLs of oil.

In many respects the Beau Vallon is analogous to the intra-Karoo oil discoveries in the Morondava Basin of Madagascar.

 

Additional potential:

A variety of additional play types are present that are less well constrained by the current mapping and require further evaluation.

  • Large potential intra-Karoo closures are present in the major regional highs at Beau Vallon, Lead C and Junon North West, which are directly analogous to the successful Sakamena play in Madagascar.
  • Leads have also been mapped in the deep water, south eastern sector.
  • Stratigraphic pinchout/ truncation plays on the eastern shelf (e.g. Creole).

 

 

To secure the rights to exploration acreage in The Seychelles a company must put forward a Forward Work Program capable of acceptance by Petro Seychelles.  In your opinion what should be considered?

Firstly, any organization wishing to consider The Seychelles as a region to secure exploration acreage and undertake responsible expenditure associated with exploration activities must first undertake a series of geological analyses.  A bid for acreage requires the organization to commit to a Forward Work Programmed (“FWP”).

A detailed review of the available data using personnel experienced in the region is most important.  This work needs to incorporate the many man years of work undertaken by my team up to 2015/16 which includes the most recent Junon 3D seismic outcomes.  The outcome of this work is the identification of the preferred 10,000 sq km bi blocks.

Next, a forward work program that reflects the geologically correct activities and timing must be negotiated and agreed with Petro Seychelles.  It must be understood that The Seychelles is keen to get wells drilled but this ambition needs to be tempered against a background of little industry attention to the region over the past 4 years and the “frontier” nature of the region.  Assumptions of securing partners to share risk and expenditure need to be realistic.

My recommendation to any organization looking to enter The Seychelles is that they undertake a well-planned and funded analysis of the region and opportunity prior to deciding to lodge a bid for acreage.

In my view, says Steven Noske, should a decision be taken to make a bid, the forward work program should be focused on maturing leads in the Junon and Beau Vallon areas to drillable prospect level, from which to select drilling candidates. A 3D seismic survey over Junon South or Beau Vallon would cost approximately $13m.

A well cost of approximately $20 MM is estimated for an exploration well drilled in 50m water depth to a TD of 1600m using a jack-up rig. Such a well would test any of the leading targets, i.e. Junon South or Beau Vallon.

 

How can organizations get in contact with you should they wish to consider The Seychelles?

To contact Steven Noske, please send an email to ausoco_energyco@outlook.com or fill out a contact form here.

 

 

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