{"id":14992,"date":"2025-05-06T12:18:30","date_gmt":"2025-05-06T12:18:30","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14992"},"modified":"2025-05-06T12:18:31","modified_gmt":"2025-05-06T12:18:31","slug":"south-africa-eco-atlantics-acquires-block-1s-substantial-volume-of-3d-and-2d-legacy-data-from-pasa","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantics-acquires-block-1s-substantial-volume-of-3d-and-2d-legacy-data-from-pasa\/","title":{"rendered":"SOUTH AFRICA: Eco Atlantics Acquires Block 1&#8217;s substantial volume of 3D and 2D legacy data from PASA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Data Acquisition and Subsurface Intelligence<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eco has now completed the acquisition of Block 1&#8217;s substantial volume of 3D and 2D legacy data from the Petroleum Agency South Africa (PASA) This purchase includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Two 3D seismic surveys totalling 3,500 km\u00b2<\/strong>\u00a0(2,000 km\u00b2 and 1,500 km\u00b2)<\/li>\n\n\n\n<li><strong>20,000+ line kilometres of 2D seismic<\/strong><\/li>\n\n\n\n<li><strong>Three key exploration well logs<\/strong>:\u00a0<strong>AF-1<\/strong>,\u00a0<strong>AO-1<\/strong>, and\u00a0<strong>AE-1<\/strong>\u00a0(All drilled on the block)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All data is of high-resolution quality and is processing-ready, with no reprocessing or reconditioning required. The seismic surveys offer full coverage across key structural and stratigraphic targets, from inboard gas-prone zones to outboard oil-charged systems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Historical Well Data and Hydrocarbon Shows<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The block benefits from three legacy exploration wells drilled in the late 1980s by Soekor, South Africa&#8217;s former state oil company. These include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>AF-1<\/strong>: Confirmed gas discovery with tested flow rates of 32.4 MMscfd<\/li>\n\n\n\n<li><strong>AE-1<\/strong>: Encountered gas shows and oil indications<\/li>\n\n\n\n<li><strong>AO-1<\/strong>: Provided key stratigraphic data and reservoir markers<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All three wells were part of Soekor&#8217;s regional Orange Basin program and offer critical calibration for seismic interpretation and future prospect de-risking.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Strategic Asset Overview<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Block 1 spans 19,929 km\u00b2 offshore South Africa, directly abutting the Namibian border. The block extends from the shore to the continental shelf, some 175km offshore then to ~263 km out into deep water, encompassing a full margin transect from the shelf to deep water channel and fan complexes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Water depths range from shallow shelf (~200 m) to deepwater (~1,000 m), enabling a full spectrum of play types. The acreage is considered geologically analogous to the Kudu gas field to the north and sits immediately south of recent discoveries made by Galp Energia (Mopane), Shell (Graff, La Rona), TotalEnergies (Venus), and Rhino Resources (Capricornus 1-X light oil discovery).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Operational Readiness<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eco will assume operatorship of the block upon final regulatory approval. As the current Exploration Right Budget and Work Plan does not involve field operations, the program proceeds without the need for additional environmental permitting for immediate interpretation and technical work to progress.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Colin Kinley, Co-Founder and COO of Eco Atlantic, commented:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;The Orange Basin has rapidly emerged as one of the most compelling hydrocarbon fairways globally, with recent multi-billion-barrel discoveries adjacent in Namibia extending directly into the geological runway of Block 1. This asset provides Eco with material exposure across a full-margin basin play-ranging from proven, gas-rich inboard sections to oil-prone targets in the deepwater and ultra-deepwater domain.&#8221;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;This strategic acquisition of high-quality 2D and 3D seismic, along with historic well logs deliver massive value to the company. This acquisition is currently conservatively estimated to replace US$50-60 million in acquisition costs required for new exploration. The data quality enables us to aggressively pursue subsurface interpretation and prospect ranking immediately. This dataset provides a robust foundation for accelerated prospect maturation and the opportunity to consider potential farm-out and partnership conversations.&#8221;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;In parallel with our South African work program, we are actively negotiating farm-out and drilling participation opportunities on our Orinduik Block in Guyana. We will update the market as those discussions progress. Our Walvis Basin acreage in Namibia, particularly the ultra-deepwater blocks, is also receiving strong interest as Orange Basin real estate becomes increasingly competitive. We continue to engage with industry and government stakeholders to advance partnerships across these core positions. Finally, our interest in Blocks 3B\/4B in South Africa-now operated by TotalEnergies-offers unique upside potential, both on completion payment of farm down costs to Eco and importantly drilling the significant resource opportunity assessed on the block.&#8221;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eco says it remains focused on disciplined, value-driven exploration, with its strong exploration team and entrepreneurial drive, and is committed to sourcing leading technical opportunities and to deliver substantial long-term value to its shareholders through partnerships and high impact exploration wells.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Company is in the final stages of securing the requisite Section 11 regulatory approval to complete the transfer of the interest and formalize operatorship, which is expected in the near term. Eco, through its wholly owned subsidiary Azinam South Africa Limited (Azinam), had earlier entered into a Farm-In Agreement with Tosaco Energy (Proprietary) Limited to acquire a 75% Working Interest and Operatorship in Block 1 offshore South Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data Acquisition and Subsurface Intelligence Eco has now completed the acquisition of Block 1&#8217;s substantial volume of 3D and 2D legacy data from the Petroleum Agency South Africa (PASA) This &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantics-acquires-block-1s-substantial-volume-of-3d-and-2d-legacy-data-from-pasa\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":14993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[8285,253,9513,11470,2272,2371,11558],"class_list":["post-14992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-azinam","tag-block-1","tag-orange-basin","tag-petroleum-agency-south-africa","tag-seismic","tag-south-africa","tag-tosaco-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/South-Africa-Block-1.png?fit=530%2C519&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3TO","jetpack-related-posts":[{"id":9369,"url":"https:\/\/www.oilnewskenya.com\/index.php\/searcher-announces-2d-and-3d-seismic-project-offshore-south-africa\/","url_meta":{"origin":14992,"position":0},"title":"Searcher announces 2D and 3D seismic project Offshore South Africa","author":"","date":"November 4, 2020","format":false,"excerpt":"Searcher has announced a new multi-client 2D and 3D seismic rectification project Offshore South Africa, in collaboration with the Petroleum Agency of South Africa. The South Africa seismic data covers the Outeniqua Basin and its sub-Basins; the Bredasdorp, Infanta, Pletmos, Gamtoos, Algoa and Southern Outeniqua Basins. Searcher has applied its\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/South-Africa-Searcher-2D-3D-1024x724-1.png?fit=1024%2C724&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/South-Africa-Searcher-2D-3D-1024x724-1.png?fit=1024%2C724&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/South-Africa-Searcher-2D-3D-1024x724-1.png?fit=1024%2C724&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/South-Africa-Searcher-2D-3D-1024x724-1.png?fit=1024%2C724&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3452,"url":"https:\/\/www.oilnewskenya.com\/index.php\/spectrum-secures-contract-2d-seismic-offshore-somalia\/","url_meta":{"origin":14992,"position":1},"title":"Spectrum Secures Contract for 2D Seismic Offshore Somalia","author":"","date":"September 7, 2015","format":false,"excerpt":"Spectrum ASA has announced it has entered into a Multi-client master co-operation agreement with the federal government of Somalia to acquire approximately 28,000 km of long offset 2D seismic data offshore south Somalia during a signing ceremony on September 5th at the SYL Hotel, Mogadishu. The new acquisition has been\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/09\/spectrum.png?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15335,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-corcel-receives-permit-for-seismic-acquisition-and-exploration-drilling-at-kon-16\/","url_meta":{"origin":14992,"position":2},"title":"ANGOLA: Corcel Receives Permit for Seismic Acquisition and Exploration Drilling at KON-16\u00a0","author":"","date":"November 6, 2025","format":false,"excerpt":"Corcel has confirmed that, further to the announcement made on 30th\u00a0April 2025, it has now received final ministerial approval of the Environmental Impact Assessment (EIA), granting the full Environmental Licence to proceed with seismic acquisition within the KON-16 Block, onshore Angola. In addition, the Company is also pleased to confirm\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Angola-KON16.jpg?fit=824%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Angola-KON16.jpg?fit=824%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Angola-KON16.jpg?fit=824%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Angola-KON16.jpg?fit=824%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15074,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-secures-exploration-right-and-transfer-of-75-interest-in-block-1\/","url_meta":{"origin":14992,"position":3},"title":"SOUTH AFRICA: Eco Atlantic Secures Exploration Right and Transfer of 75% Interest in Block 1\u00a0","author":"","date":"June 9, 2025","format":false,"excerpt":"Eco (Atlantic) Oil & Gas announce that, further to the Farm-In Agreement announced on 5 June 2024, formal approval has been received from the South Africa Department of Mineral and Petroleum Resources for both the Exploration Right and Section 11 transfer. Accordingly, Eco has now secured a 75% Working Interest\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/South-Africa-Eco-Atlantic_Orange-Basin-Block-1-Prospect-Location-Map-1024x657-1.png?fit=1024%2C657&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/South-Africa-Eco-Atlantic_Orange-Basin-Block-1-Prospect-Location-Map-1024x657-1.png?fit=1024%2C657&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/South-Africa-Eco-Atlantic_Orange-Basin-Block-1-Prospect-Location-Map-1024x657-1.png?fit=1024%2C657&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/South-Africa-Eco-Atlantic_Orange-Basin-Block-1-Prospect-Location-Map-1024x657-1.png?fit=1024%2C657&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12891,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pgs-release-west-mc3d-depth-merge-and-interpretation\/","url_meta":{"origin":14992,"position":4},"title":"EGYPT: PGS Release West MC3D Depth Merge and Interpretation","author":"","date":"December 2, 2022","format":false,"excerpt":"Post-stack depth-merge over 24 000 sq. km of data raw and final KPSDM full-stack volumes in time and depth migration velocity model in depth processing report These data have now been merged into a single full stack depth seismic volume (KPSDM), including two pre-existing reprocessed overlapping MC3D surveys (legacy 3D\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/egypt-mc3d-3.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/egypt-mc3d-3.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/egypt-mc3d-3.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/egypt-mc3d-3.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/egypt-mc3d-3.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2497,"url":"https:\/\/www.oilnewskenya.com\/index.php\/camac-energy-completes-2d-seismic-acquisitions-in-kenyas-blocks-l1b-l16\/","url_meta":{"origin":14992,"position":5},"title":"CAMAC ENERGY COMPLETES 2D SEISMIC ACQUISITIONS IN KENYA&#8217;S BLOCKS  L1B, L16","author":"","date":"February 11, 2015","format":false,"excerpt":"CAMAC Energy has announced today the successful completion of its onshore 2D seismic acquisitions on blocks L-1B and L-16 in the Republic of Kenya. The 2D seismic program whose contract was signed in September last year was conducted by BGP Kenya Limited and covers approximately 700 line kilometers on L-1B\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14992"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14992\/revisions"}],"predecessor-version":[{"id":14994,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14992\/revisions\/14994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/14993"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}