PetroNor, the independent oil and gas exploration and production company with a focus on production, development and exploration assets across sub-Saharan Africa, announces that, further to the announcement made on 30 October 2020 regarding a three month extension to the suspension to the Arbitration with Senegal, both parties have agreed to extend the suspension period by an additional two months. The extension is a result of ongoing discussions as well as delays to the process as a result of the global pandemic.
Commenting on the update, Eyas Alhomouz, Chairman of PetroNor E&P Limited, said:
“We remain in progressive dialogue as both parties seek to establish a satisfactory solution. Ongoing negotiations however have been hampered by the pandemic and so this additional extension provides more time to progress the dialogue to a conclusive outcome. We will update the market when there are further developments.”
