Find Oil and Gas expertise in Seychelles

Oil and Gas account for 25% of all Seychelles importation; this supplies 95% of its commercial energy consumption needs. Since the 1970s some geophysical and geological exploration has taken place with minor exploration drilling. The geochemical analyses and exploration data from its offshore acreage indicate potential for commercial production. In January 2005 the government of Seychelles accepted a bid from a US prospecting company to search for oil in its waters. This was followed by around 10 years of petroleum exploration. The Seychelles National Oil Company (SNOC) and the Seychelles Petroleum Company (SEPEC) approved an offer from PetroQuest International an energy development firm based in the southern US state of Louisiana. Under the terms of the agreement, PetroQuest will explore for oil and natural gas in a 30 000-square kilometre area in the Seychelles’ southern shelf. Four locations have been approved for exploration: the Constant and Topaz banks and the waters surrounding the Farquhar and Coetivy island groups. The industry is regulated by the Minister of Industry. The current Minister of Industry is Mr Ralph Adam.