2008 SADR Licence Offering
The Saharawi Arab Democratic Republic (SADR) is pleased to announce the holding of a Second Petroleum Licensing Round, to be opened in Houston, Texas, USA in early 2008.
A total of three onshore and six offshore blocks will be offered, totaling 192,569 square kilometers (48 million acres). Water depths in the offshore blocks range from 0 to 3,600 meters.
Most of the blocks lie in the under-explored Mesozoic and Tertiary Aaiun Basin, where the most recent extensive oil and gas exploration program was accomplished in the late fifties and early sixties. This earlier exploration program proved the existence of a sedimentary section at least 6,000 meters thick, and the presence of all of the ingredients for a working petroleum system.
The SADR licensing regime is a Production Sharing Contract (PSC) format, with most terms biddable. The PSC is preceded by an Assurance Agreement (AA), valid for a period of up to ten years, or until certain external conditions have been met.
The SADR held a very successful First Bid Round which opened in 2005, with 9 licenses awarded to eight companies in early 2006. These companies are presently evaluating the petroleum prospects of the awarded licenses.
Guidelines for investors and an application form for the 2008 licensing round are now available for download (see below). Interested parties are also able to obtain electronic versions of the Assurance Agreement and the Production Sharing Contract
by e-mailing Mr. Kamal Fadel at firstname.lastname@example.org.
The timetable for the 2008 licensing round is as follows:
a. Bid round closes 30 October, 2008: Full application packages need to be received by 12 midnight on 30 October, 2008.
b. Discussions with applicants during November, 2008: Discussions with applicants during November, 2008.
c. Award date is 1 December, 2008: Successful applicants will be expected to produce sufficient original copies of the Assurance Agreement and the Production Sharing Contract, for execution at a mutually convenient location.
A comprehensive presentation on the previous oil and gas exploration history of the SADR, various geotechnical aspects of the SADR, and the details of the Second License Offering are summarized in the power-point presentation Oil & Gas License Offering 2008 also accessible via the News and Updates Page.
The areas of the Blocks on offer
in the 2008 SADR Licence Offering are given below: