Gulf Oil and Gas accountACCOUNT

Woodside Acquires 65% Interest in AGC Profond Block

Source: www.gulfoilandgas.com 2/18/2016, Location: Africa

Woodside advises that its subsidiary Woodside Energy (Senegal) Pty Ltd has entered into an agreement with Impact Oil & Gas AGC Ltd (Impact) to acquire a 65% participating interest in a Production Sharing Contract (PSC) and associated joint operating agreement in the AGC Profond block located in the joint development area between Senegal and Guinea-Bissau (the Zone).

The AGC Profond PSC covers approximately 6,700 km² and its water depths range from 1,400m to 3,700m.

Impact will retain a 20% participating interest and Entreprise AGC SA (an entity owned by Senegal and Guinea-Bissau pursuant to the documents governing the Zone) has a 15% participating interest in the PSC. Woodside will be the operator of the PSC.

Woodside CEO Peter Coleman said the PSC represented an opportunity for Woodside to secure high quality acreage in a focus area of interest.

“This builds on recent acquisitions in Cameroon, Gabon and Morocco and reflects our disciplined and strategic approach to studying regional petroleum systems,” Mr Coleman said.

The completion of the farm-in, and Woodside’s acquisition of the interest, is subject to conditions precedent including regulatory approvals.

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

Acquisitions and Divestitures News in Senegal >>

Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on June 29, 2020, informs the beginning of the binding phase, referring to the sale of its enti...
Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on 06/26/2020, informs the beginning of the binding phase, referring to the sale of its entire ...

Brazil >>  8/7/2020 - Petrobras, in continuation of the communique released on 06/01/2020, informs the beginning of the binding phase regarding the sale of its stake (35%) ...
Brazil >>  8/5/2020 - Petrobras, following up on the release disclosed on 01/03/2020, informs that it signed with Centro Oeste Óleo e Gás Ltda. an agreement for the sale of...

Nigeria >>  8/4/2020 - Canadian Overseas Petroleum Limited ("COPL"), an international oil and gas exploration and development company focused on offshore Africa, is pleased ...
Bangladesh >>  8/3/2020 - United Oil & Gas PLC ("UOG"), the high growth oil and gas company with a portfolio of production, development and exploration and appraisal assets is...

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 


Senegal Oil & Gas 1 >>  2 |

Oil & Gas Projects in Senegal >>

More News

Related Links

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