ANP-STP Awards Block 3 to Oranto Petroleum

Source: www.gulfoilandgas.com 5/4/2011, Location: Africa

In the light of the First Licensing Round and following the evaluation of all the applications submitted, including the necessary due diligence undertaken by the authorities. The National Petroleum Agency (Agencia Nacional do Petróleo, ANP-STP) informs the public that the Government of SaoTome and Principe has awarded Block 3 to the Oranto Petrloeum.

This Block covers an area of 4,228 km2 and is situated in zone A of the Exclusive Economic Zone.

Oranto Petrloeum is an independent Nigerian company with operations since 1991 and the company is an active operator in fourteen Blocks in West Africa and Gulf of Guinea.

Within the framework of Petroleum Legislation in place, a Production Sharing Contract will be negotiated and carried out for the explorations activities on such block.


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

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