Gulf Oil and Gas accountACCOUNT

VAALCO Announces Update at Equatorial Guinea

Source: www.gulfoilandgas.com 11/26/2019, Location: Africa

VAALCO Energy, Inc. provided an update on Equatorial Guinea. VAALCO Energy Mauritius (EG) Limited (“VAALCO EG”), a subsidiary of the Company, currently holds a 31% participating interest in Block P, located offshore Equatorial Guinea.

On November 26, 2019, the Equatorial Guinea Ministry of Mines and Hydrocarbons announced the results of the EGRONDA 2019 bid round. VAALCO EG is in preliminary commercial discussions with Levene Hydrocarbon Limited (“Levene”) regarding VAALCO EG serving as a contract operator for recently awarded onshore Blocks 3 and 4 and offshore Block 19 in Equatorial Guinea. VAALCO EG would not possess a participating interest in Blocks 3, 4 and 19.

VAALCO EG potentially serving as contract operator on Blocks 3, 4 and 19 is subject to further commercial arrangements and to Levene acquiring a portion of VAALCO EG’s existing 31% working interest in Block P. VAALCO EG and Levene have executed a Memorandum of Understanding and are engaging in preliminary discussions regarding a potential commercial relationship in Equatorial Guinea. However, the parties have not executed any binding agreements, and there can be no certainty that a transaction will be forthcoming.

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

Acquisitions and Divestitures News in Equatorial Guinea >>

Austria >>  9/23/2020 - OMV and VERBUND reach agreement on transaction contract: VERBUND acquires 51% of shares Gas Connect Austria GmbH. The contract signing will take place...
Sweden >>  9/22/2020 - Inter Pipeline Ltd. announced that it has entered into a definitive agreement to divest a major portion of its European bulk liquid storage business t...

Australia >>  9/21/2020 - Comet Ridge Limited is excited to announce that the Company has been selected by the Queensland Government as preferred tenderer for two additional ga...
Brazil >>  9/21/2020 - Petrobras, in relation to the news published in the media, referring to the divestment of the Presidente Getúlio Vargas Refinery (Repar), clarifies th...

Norway >>  9/21/2020 - PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North ...
Norway >>  9/21/2020 - PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjorn and Valemon, two producing fields in the North ...

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 


Equatorial Guinea Oil & Gas 1 >>  2 |

Oil & Gas Projects in Equatorial Guinea >>

More News

Related Links

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