Mauritius & Seychelles Reach Agreement on Oil Exploration

Mauritius and Seychelles have agreed to initiate oil exploration within the Joint Management Area (JMA) of the Mascarene Plateau, following a recent meeting of the Technical Committee of the Joint Commission for the Extended Continental Shelf.

This announcement was made by the Seychelles News Agency on September 9.

The exploration will begin with a multi-client study, which will include a seismic survey aimed at identifying the presence, location, and extent of oil reserves in the region.

Philippe Michaud, co-chair of the meeting, confirmed to the Seychelles News Agency that negotiations are currently underway with a company interested in conducting this study.

While Michaud did not disclose the name of the company involved, Spectrum Geo, which was mentioned in 2018 during the initial proposal for exploration of the Mascarene Plateau, could potentially play a role.

Michaud acknowledged the challenges associated with oil exploration, noting that various factors, including falling oil prices and the impact of the pandemic, have hampered progress in the past.

However, he expressed optimism over renewed interest in exploration activities.

Importantly, Michaud stated that Seychelles would incur no direct costs for this study. Revenues generated from oil extraction will be split equally between Seychelles and Mauritius, each receiving 50%.

He emphasized that Seychelles would remain actively involved throughout the process, collaborating with the technical committee.

Regarding a timeline for the commencement of operations, he indicated that no specific dates could be provided at this moment.

The Joint Management Area serves as the governance framework established between Seychelles and Mauritius for overseeing an area of the seabed and its subsoil within the Mascarene Plateau.

This jurisdiction does not extend to the waters or living organisms situated above the plateau.

In 2012, both nations signed a treaty enabling them to secure rights over an additional seabed area spanning over 400,000 square kilometers in the Indian Ocean.

This endeavor involved preparing a joint submission of the continental shelf to the Commission on the Limits of the Continental Shelf, in accordance with the international procedures outlined in the United Nations Convention on the Law of the Sea of 1982.

Through this initiative, Seychelles and Mauritius have established the world’s first Joint Management Area covering such an extensive region, along with a Joint Commission responsible for coordinating and managing the exploration, conservation, and development of both living and non-living resources within this area.

Seychelles News Agency

Source: Defi Media