Game - Changer Industries
Hydrocarbon and Seabed Mineral Exploration and Exploitation
The discovery of hydrocarbon reserves off the coast of East Africa and Madagascar significantly increases prospects for hydrocarbons in the exclusive economic zone of Mauritius.
Furthermore, the discovery in 2009 of inactive hydrothermal fields by the joint Mauritian and Japanese expedition within our EEZ indicates the like hood of mineral deposits. Previous international expeditions have also discovered fields of polymetallic nodules and mineral ore in ocean basins close to our maritime zone.
The Expression of Interest (EOI) launched by Mauritius and the Seychelles for exploration of our Joint Management Area (JMA) extending over some 400 sq.km closed on 13 February 2016 with seven registered bids. Spectrum ASA successfully signed a contract with the Joint Commission in Mauritius on 09 to 11 January 2018 for a Multi-Client Survey. Spectrum ASA is expected to start carrying out the survey of the JMA as from September 2018.
Mauritius is also firming up its petroleum bill that would be presented to Parliament in the foreseeable future. An expression of interest for exploration for our EEZ is also under process.
Moreover, an EOI for sponsorship for deep sea exploration for minerals in international waters was launched in 2016.
Why Mauritius for Hydrocarbon and Mineral Exploration and Exploitation?
- Interesting marine geological features in a relatively unexplored basin
- Contractual framework based on international best practices
- Enabling business environment
- Political stability and rule of Law
- Investment protection
- Offshore Petroleum Bill based on international best practices in the process of being finalised
- Seabed Mineral Bill based on ISA codes in the process of being finalised
- Licencing of rights for the development of commercial databases for multi-client surveys
- Licensing of concessions to oil companies for prospection and eventually production
- Sponsorship for seabed minerals exploration in international waters.