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Philippe Michaud, co-chair of the meeting, confirmed that negotiations were underway with a company interested in undertaking the survey. Once this is done, an agreement will be signed, leading to an environmental impact assessment (EIA), before work can start
Seychelles and Mauritius have agreed to have petroleum exploration within the Joint Management Area (JMA) of the Mascarene Plateau at a recent meeting of the Technical Committee of the Joint Commission of the extended continental shelf. This will start with a multi-client survey, including a seismic survey, to know if, where, and how much oil reserves are in the area.
Philippe Michaud, co-chair of the meeting, confirmed that negotiations were underway with a company interested in undertaking the survey. Once this is done, an agreement will be signed, leading to an environmental impact assessment (EIA), before work can start.
He did not reveal the name of the company as no confirmation has been given, but Spectrum Geo is the company that was announced in 2018 when the idea to explore the Mascarene Plateau was first put forward. He added that for this survey, there are no direct costs for Seychelles, and only once the extraction of oil begins can Seychelles and Mauritius get 50 percent each of whatever revenue it generates.
The Joint Management Area is the mechanism of joint jurisdiction between Seychelles and Mauritius over an area of the seabed and its underlying subsoil in the Mascarene Plateau Region. It excludes the water and living organisms above the shelf.
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Seychelles and Mauritius have established the world’s first Joint Management Zone covering such an area, and a Joint Commission to coordinate and manage the exploration, conservation, and development of the living and non-living resources of the seabed in the area.
