Offshore explorer Tangiers Petroleum is gearing up to spud a new Atlantic Margin exploration well in partnership with Galp Energia. A site survey has already been completed in preparation for drilling the TAO 1 well in the Tarfaya block offshore Morocco.

Galp Energia has been screening the market to identify suitable rig-sharing or sub-let options for the drilling program, and tender documents for a drilling rig are being prepared, Tangiers disclosed in a quarterly report for the three months ending December.

A Moroccan joint ministerial order has been received approving the assignment of 50% equity and transfer of operatorship of the Tarfaya offshore block to Galp Energia. Tangiers retains a 25% interest, and Morocco’s state entity ONHYM holds the remaining 25%.

Tarfaya comprises eight contiguous permits encompassing 11,281 sq km (4,356 sq miles), in an area 600 km (375 miles) southwest of the Moroccan capital, Rabat, near the Canary Islands, with water depths up to 200 m (656 ft). Multiple prospects have been identified within the area with Jurassic sedimentary leads, and further hydrocarbon potential has been identified in Tertiary, Cretaceous, and Triassic formations. Four prospects within Tarfaya, Trident, TMA, Assaka, and La Dam have been assigned an in-place oil estimate of 4,335 Bbbl and P50 prospective resources of 867 MMbbl.