Cameroon’s Decade-Long Drilling Wait Nears End as Tower Resources Secures Rig Contract
Cameroon’s prolonged wait for drilling in its Thali license is set to conclude later this year following Tower Resources’ award of a rig contract to Saudi services company ADES. The UK-listed exploration company has secured one of ADES’ 48 jack-up rigs for the NJOM-3 well, likely utilizing the 2019-built Admarine 510 rig currently undergoing recertification in Bahrain.
The development follows a familiar pattern of extensions, with Tower Resources submitting another application for exploration period extension of the Thali license. However, the Cameroonian government requested final rig selection completion to better assess extension requirements. Tower Resources originally secured the Thali license production sharing contract for a three-year exploration period in September 2015.
The shallow-water Thali license in the Rio del Rey basin was formerly part of the Dissoni oil block included in TotalEnergies’ 2010 divestment to Perenco Energy. Tower Resources has optimized the NJOM-3 well location and design based on reprocessed 3D seismic data using AI-driven Paradise workbench software, targeting thicker reservoir sections while minimizing gas cap exposure.
The company’s improved fortunes follow a farm-out agreement with Pakistan’s Prime Global Energies announced early this year, securing $15 million additional capital in exchange for a 42.5% Thali license stake.
Source: africaoilgasreport.com