Preliminary estimates indicate a total 560 bcm of natural gas reserves (all resource categories combined, including Proved, Probable and Possible). We envisage that a total amount of capital expenditure of US$4.8-5.2 bn will be needed for the exploration, development and production over the lifetime of these five investment blocks (Source: PwC, DeGolyer and MacNaughton, March 2019).
All our oil and gas projects are implemented under an Investment Agreement on terms of 50:50 sharing extracted hydrocarbons between the State and the Investor. Exploration and, in several instances, production has already commenced within Investment Blocks 1, 2 and 3 and detailed research programs are in the advanced planning stage for Investment Blocks 4 and 5.
A number of field facilities such as collection points, metering units and gas pipelines have already been constructed to ensure the prompt production and sale of oil and gas products from our blocks and we plan to construct or refurbish others, including oil pipelines, booster compressor stations, oil treatment plants and loading overpasses.