Exploration and production company Corcel has secured all requisite approvals to conduct geological surveying on Blocks KON 11, KON 12 and KON 16 in Angola’s onshore Kwanza Basin. The data acquisition aims to provide further insight into the prospectivity of the blocks, which include the Tobias and Galinda fields.
The surveys will be conducted by geophysical exploration company Metatek Group during Q3 2024. Metatek Group will acquire geology and geophysics data using an enhanced full tensor gradiometry (eFTG) survey, providing a comprehensive understanding of potential leads and prospects to enable the reactivation of brownfield assets.
“The eFTG Survey over our blocks will enhance our geological understanding and bolster our efforts in the Kwanza Basin, where we remain confident there is significant potential,” stated Antoine Karam, Corcel’s Non-Executive Chairman
What do you think?
The amount of funding they secured is impressive, and it’s great to see that they have the support of investors to help them bring their vision to life. This financing will surely help them to accelerate the development of Big River 2 and make it a success.