Licence G1/48 (Manora oil field)

Modest size, later life oil field

Valeura holds an operated 70% working interest in Licence G1/48 containing the Manora oil field, which produces approximately 2,400 bbls/d (working interest share) of medium-weight sweet crude oil from reservoirs of Miocene age.  The field contains 2.2 million bbls of 2P oil reserves on a gross (before royalties) working interest share basis.*

The field was developed by wells drilled from a single fixed wellhead and processing platform tied to a leased Floating Storage and Offloading vessel.  

The remaining 30% interest in the licence is held by Tap Oil.

* Reserves and resources estimates are based on an independent third party reserves and resources assessment by Netherland, Sewell & Associates, Inc. as of December 31, 2023 and more fully described in the Company’s February 21, 2024 announcement.