Apus Energy has entered West Africa’s offshore frontier in Guinea-Bissau. With high-impact drilling now underway, the company is set to bring fresh momentum and investor attention to one of the region’s most underexplored hydrocarbon basins.
In a key development for West African exploration, Apus Energy spudded the Atum-1X exploration well offshore Guinea-Bissau in September 2024 – the first offshore well in the country in nearly 20 years. Located near Senegal’s prolific Sangomar field, the prospect holds a potential 314 MMbbl of recoverable oil. The well is being drilled using the Ocean BlackRhino, a seventh-generation drillship operated by Noble Corporation, with well management provided by AGR, part of ABL Group.
Apus Energy entered Guinea-Bissau’s upstream sector through the acquisition of 100% interest in the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licenses from Spanish oil and gas company Petronor. The $85 million farm-out agreement included upfront payments for historical license costs and contingent milestones tied to government approval of a field development plan and sustained production. Covering a total area of 4,962 km2, the licenses contain two main prospects – Atum and Anchova – with a combined estimated 467 MMbbl of unrisked prospective resources.
Apus Energy’s drilling campaign positions Guinea-Bissau as one of West Africa’s most closely watched emerging plays. The company’s long-term strategy aligns with the region’s energy ambitions and presents new opportunities for investment, local capacity building and energy security.
“Apus Energy’s work offshore Guinea-Bissau is a strong signal that frontier exploration in West Africa is entering a new chapter. Their commitment to high-impact drilling, strategic partnerships and long-term value creation reflects the kind of leadership needed to unlock the region’s vast untapped potential,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
