Acquisitions and Divestitures: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

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 >>

Egypt Awards 5 Oil And Gas Concessions Worth $100m
  Egypt >>  8/3/2015 - Egypt has awarded five oil and gas concessions that are expected to bring in minimum total investments of about $100 million, the oil ministry said in...
Papua LNG Project Operator Transition to Total Complete
  Papua-New Guinea >>  8/3/2015 - Oil Search advises that Total E&P PNG Limited (Total) has become operator of the PRL 15 Joint Venture, including the Papua LNG Project, effective from...

BP to Relinquish Three Offshore Blocks in Uruguay
  Uruguay >>  8/3/2015 - British oil major BP has halted its deepwater exploration activities off Uruguay as it prioritizes lower-risk projects at a time of low international ...
BHOS Students Taking Internship at Neft Dashlari
  Azerbaijan >>  7/31/2015 - BHOS 2nd and 3rd year students on petroleum engineering are taking internship at Neft Dashlari (Oil Rocks) Petroleum Extraction Department of Azneft P...

Savannah Signs R3/R4 PSC Signature
  Niger >>  7/31/2015 - Savannah Petroleum is pleased to announce the signing of a Production Sharing Contract (“PSC”) by Savannah Petroleum Niger and the Government of Niger...
Otto Energy Farms Down 10% Interest in SC55 to Pryce Gases
  Philippines >>  7/31/2015 - Otto Energy subsidiary, Otto Energy Philippines, has signed a farm-in option agreement with Pryce Gases to earn a 10% working interest in SC55, offsho...



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

Related Articles: 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

Countries Quick Links

AO BJ BW CD CG CI CM 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 B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed