Gulf Oil and Gas accountACCOUNT

BP, Kosmos Win Rights to 2 Oil Blocks in Sao Tome and Principe

Source: Reuters 1/23/2018, Location: Africa

Share |
A consortium of BP and Kosmos Energy has won exploration rights to two offshore oil blocks in Sao Tome and Principe’s exclusive economic zone (EEZ), the national oil agency said.

The two companies won blocks 10 and 13 in a restricted tender, the agency’s director Orlando Pontes said in a statement late on Monday. They beat a second consortium of Portugal’s Galp Energia and Total, he said.

Sao Tome and Principe, a tiny island nation in Africa’s Gulf of Guinea, is surrounded by oil-rich neighbors Nigeria, Cameroon, Equatorial Guinea and Angola.

Despite a lack of significant discoveries after several years of prospecting, the industry sees its waters as likely to yield oil eventually, and several firms are currently exploring.

Its 129,000-square km EEZ is divided into 19 blocks.

New York-listed Kosmos Energy, which is active in other parts of West and Central Africa, acquired licenses to blocks 5, 6, 11 and 12 in 2015 and 2016. The national oil agency said it expected the firm to begin drilling in 2019 based on seismic results.

Acquisitions and Divestitures News in Sao Tome and Principe >>

Spain >>  2/22/2018 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, provides the following update ...
Ghana >>  2/19/2018 - Aker Energy AS, a 50-50 joint venture between Aker ASA and TRG AS, has entered into an agreement with a subsidiary of Hess Corporation to acqui...

Russia >>  2/19/2018 - PAO NOVATEK (NOVATEK) won the open auction to acquire a 100% stake in Maretiom Investments Limited (owns 100% equity share in Geotransgaz) and 100% of...
United Kingdom >>  2/19/2018 - Baron Oil PLC has entered into an option agreement with Corfe Energy Limited to be assigned part of its rights to farm in to UK North Sea Licence P223...

United Arab Emirates >>  2/18/2018 - On behalf of the Abu Dhabi Government, the Abu Dhabi National Oil Company (ADNOC) signed an agreement with Cepsa, a Spanish integrated oil and gas com...
United Kingdom >>  2/16/2018 - Angus Energy Plc, the conventional oil and gas production and development company, announces that pursuant to the Company’s 22 January RNS it has init...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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 


Sao Tome and Principe Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Sao Tome and Principe >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.