Gulf Oil and Gas accountACCOUNT

GPB Global Resources Signed PSA in Ethiopia

Source: www.gulfoilandgas.com 7/17/2014, Location: Africa

H. E. Ato Tolesa Shagi, Minister of Mines of the Federal Democratic Republic of Ethiopia and Mr. Alexander Ivanov, Chief Business Development Officer of GPB Global Resources, have signed a Petroleum Production Sharing Agreement (PPSA).

During the signing ceremony H. E. Ato Tolesa Shagi extended his appreciation to GPB Global Resources: "I have no doubt that the Company shall undertake all operations in a responsible manner and to levels acceptable by international petroleum exploration practices and standards."

The PPSA envisages petroleum exploration and production in the "Afar" license area. The area is located in the Afar region of Ethiopia in the north-eastern part of the country and covers about 42 thousand sq. km.

The PPSA secures a 7-year exploration and a 25-year production period. GPB Global Resources is the operator of the project. The exploration period will be financed by GPB Global Resources.

For more information about related Opportunities and Key Players visit East Africa Projects

Acquisitions and Divestitures News in Ethiopia >>

Egypt >>  2/20/2020 - United Oil & Gas Plc (UOG) is pleased to announce the satisfaction of the regulatory conditions attached to its proposed acquisition (Acquisition) of ...
Canada >>  2/19/2020 - Calima Energy Limited (CE1) (Calima) owns and operates drilling and production rights in British Columbia (”Calima Lands”). The Company is pleased to ...

Vietnam >>  2/14/2020 - KrisEnergy has announced that its wholly-owned subsidiary, KrisEnergy (Vietnam 115) Ltd, has entered into a farm-out agreement with a major internatio...
Ireland >>  2/13/2020 - Providence Resources P.l.c., the Irish based Energy Company provides the following corporate update. ...

United Kingdom >>  2/13/2020 - i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce the following update. ...
Egypt >>  2/12/2020 - Neptune Energy signed an operated exploration licence with the Egyptian General Petroleum Corporation (EGPC) for Egypt’s North West El Amal Offshore C...

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 


Ethiopia Oil & Gas 1 >> 

Oil & Gas Projects in Ethiopia >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.