Gulf Oil and Gas accountACCOUNT

Africa Oil PSC in Somalia Block

Source: www.gulfoilandgas.com 5/28/2009, Location: Africa

Share |
Africa Oil Corp. is pleased to announce the signing of a farmout letter of intent with Raytec Metals Corp. ("Raytec") for their entry into the production sharing contract in Puntland, Somalia.

In Puntland, Somalia, Africa Oil will transfer a 25% (twenty-five percent) license interest to Raytec in the Nogal and Dharoor Petroleum Production Sharing Agreements.

Raytec,will pay a disproportionate share of costs associated with the planned work programs to be carried out in 2009 and 2010.

This farmout transaction is subject to government, exchange, board and partner approvals if required.

Acquisitions and Divestitures News in Somalia >>

Gabon >>  2/22/2017 - Panoro Energy ASA (Panoro) is pleased to announce that on 21 February 2017 its fully-owned subsidiary, Pan-Petroleum Gabon B.V. (PPGBV), has entered i...
Argentina >>  2/20/2017 - Zenith Energy Ltd. (ZEE) the dual listed international oil & gas production company is pleased to announce the sale of its operations in Argentina to ...

Malaysia >>  2/20/2017 - Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion a...
Morocco >>  2/20/2017 - Sound Energy, the African and European focused upstream gas company, is pleased to announce, further to the Company's announcement of 19 January 2017,...

United Arab Emirates >>  2/20/2017 - Abu Dhabi awarded a 4 percent stake in its giant onshore oil concession to CEFC China Energy Co for a fee of 3.3 billion dirhams ($900 million), state...
United Arab Emirates >>  2/19/2017 - Abu Dhabi National Oil Company (ADNOC), signed an agreement with the China National Petroleum Corporation (CNPC), awarding it an 8% interest in Abu Dh...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Somalia Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Somalia >>


Related Links

AO BJ BW CD CG CI CM DJ DZ EG EH ET GA GF GH GM GN GQ GW KE LR LY MA MG ML MR MW MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Privacy Policy.