Bahari Resources, formed in 2012, is a privately owned oil & gas exploration company focused on frontier exploration in under-explored provinces in Sub-Saharan Africa and the Western Indian Ocean.
The Company was the first oil & gas company to give serious consideration to the Comoros as an oil & gas province and, together with its partner Discover Exploration, the first company to be awarded an exploration and production licence there.
Founded by an experienced management team, the company has an extensive track-record, with financial and strategic backing from investors who were directly involved in the development of Ophir Energy, one of the largest holders of offshore acreage in East Africa, the primary focus is to identify exploration projects in under-explored regions.
In March 2013, the Exploration and Production Sharing Agreement (EPSA) was signed by the Government of the Comoros following the implementation of the country’s new Petroleum Code at the start of 2013. In March 2014, the National Assembly of the Union of the Comoros formally approved the EPSA for the offshore blocks 35, 36 and 37.