Offshore Africa

Offshore Africa

In Offshore Africa, Canadian Natural maintains strong relationships with the governments of Cote d’Ivoire and South Africa. Offshore Cote d'Ivoire projects provide some of the highest returning projects in the Company. These assets continue to generate significant free cash flow and considerable light crude oil growth.

Canadian Natural maintains a high working interest in our Offshore Africa assets. This is an area that once again delivers high-value, light crude oil, providing development opportunities with significant exploration upside, we capitalize on strong government relationships and leverage the technical/operational expertise from the North Sea.

We have a maintained a cost conscious approach to the development of our Cote d’Ivoire assets. To optimize our facilities, we currently have development infill drilling programs in place at Baobab and Espoir.
Additionally, we acquired two prospective blocks offshore Cote d’Ivoire in 2013. In early 2014, an accumulation of hydrocarbons was discovered in the deepwater frontier exploration play in Block CI-514. A second well will be drilled in 2015 to confirm or dispute a presence of light crude oil.

In late 2013, the Company announced a partnership with Total E&P South Africa BV (“Total”) to jointly explore Block 11B/12B offshore South Africa. In the third quarter of 2014, Total commenced drilling of the first exploratory well. However, due to mechanical issues with marine equipment on the drilling rig and a short drilling window, drilling operations have been ceased. Drilling is targeted to recommence no earlier than 2016.

Baobab Espoir Olowi South Africa

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