Decree No. 2013 - 1154 Of August 23, 2013

Original Language Title: Décret n° 2013-1154 du 23 août 2013

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Ministry of energy and MINES Decree No. 2013 - 1154 of August 23, 2013 Decree No. 2013 - 1154 of August 23, 2013, on the extension of the initial period of research of contract research and sharing of Production of petroleum concluded between the State of Senegal, la Société des Pétroles du Sénégal (PETROSEN) and company PETRO-TIM Limited for the St. Louis Offshore deep block.

REPORT of PRESENTATION the present draft decree is to the extension of the initial period of research the research contract and hydrocarbon Production-sharing relating to the block of St. Louis Offshore deep.

This contract concluded between the State of Senegal on the one hand and PETRO-TIM Limited and PETROSEN (the contractor) on the other hand and approved by Decree No. 2012-597 of June 19, 2012 purpose is to research and exploitation of oil and natural gas in the block of St. Louis Offshore deep.

The originally negotiated for the total period of research under this contract lasts for seven and a half years including two years for the initial period of research, three years for the first period of renewal and two years and a half for the second period of renewal.

The minimum commitments of work for this period of research are the acquisition of 2000 square kilometres of 3D for the initial period of research seismic data and drilling a well for exploration for each renewal period.

Since the effective date of the contract, the company PETRO-TIM Limited conducted a technical evaluation of the block and is investing nearly two million US dollars.
This evaluation helped to have a finer understanding of the geology of the area and including confirmed the presence of volcanic intrusions.

However, it has failed to to delineate the scope and distribution; This represents a brake when the definition of the area more conducive to be covered by the seismic 3D that the company is committed to achieve during this initial period of ongoing research.

Thus, the PETRO-TIM company seeks an extension of this current period for an additional year, the time to conduct an aeromagnetic study to identify more the extent of this volcanism and delineate more accurately the potential areas to be covered by the seismic 3D scheduled for an amount of US $ 15 million.

That is, the President of the Republic, the economy of the present draft decree that I submit for your approval.

The President of the Republic, pursuant to the Constitution;

Having regard to Act No. 98 - 05 of 8 January 1998 on Code tanker;

Mindful of Decree No. 98 - 810 of 6 October 1998 laying down the procedures and conditions for the application of Act No. 98-05 January 5, 1998 on the Code tanker;

Having regard to Decree No. 2012 - 427 of April 3, 2012 concerning the appointment of the Prime Minister;

Having regard to Decree No. 2012-543 24 may 2012 on the distribution of the services of the State and control of public institutions, national companies and companies with public participation between the Presidency of the Republic, the Prime Minister's Office and the ministries, as amended;

Considering Decree No. 2013 - 277 of February 14, 2013 concerning the composition of the Government.

Having regard to Decree No. 2013 - 921 of 1 July 2013 on the organisation of the Ministry of energy and Mines;

Mindful of Decree No. 2012-597 of June 19, 2012, approving the research contract and hydrocarbon Production sharing agreement between the State of Senegal, the Société des Pétroles du Sénégal (PETROSEN) and the PETRO-TIM Limited Company for the St. Louis Offshore deep block;

Having regard to the request for extension of the initial period of research the research contract and hydrocarbon Production sharing agreement between the State of Senegal on the one hand and PETROSEN and PETRO-TIM Limited corporations from Saint-Louis Offshore deep block, dated July 22, 2013;
On the report of the Minister of energy and Mines.

First article. -The initial period of research the research contract and sharing of Production of hydrocarbons, relating to the block of St. Louis Offshore deep, concluded between the State of Senegal on the one hand and the Société des Pétroles du Sénégal (PETROSEN) and the company PETRO-TIM Limited, on the other hand, is extended for a period of 12 months starting June 19, 2014, until June 19, 2015.

S. 2. - the area contract that covers the block of Saint - Louis Offshore deep, a deemed total surface area equal to 9463 km², is defined by the following reference points: Points Longitudes Latitudes A 17 ° 10'00 "W 16 ° 04'00" N B 18 ° 30'00 "W 16 ° 04'00" N C 18 ° 30'00 "W 15 ° 25'00" N D 17 ° 22'00 "W 15 ° 25'00" N s. 3. - the Minister of energy and Mines is responsible for the implementation of this Decree which shall be published in the Official Journal.

Made in Dakar, August 23, 2013, by the President of the Republic: Macky SALL Prime Minister Abdoul MBAYE.