Gulf Oil and Gas accountACCOUNT

AsherXino Completes Farm Out Agreement with Petrolog Group

Source: www.gulfoilandgas.com 6/23/2011, Location: Africa

Share |
AsherXino Corporation is pleased to announce that it has completed a farm out and partnership agreement with Petrolog International Group for its offshore Nigeria concession. AsherXino had earlier received a letter of intent to participate in the Nigeria offshore concession from Petrolog International.

The agreement provides to AsherXino:
· A payment of $7.5m for Farm out of Fifteen percent (15%) of Nigeria offshore oil and gas concession to Petrolog.
· Joint partnership in other oil and gas concessions across West Africa.

· Access to a range of high quality exploration, development or production opportunities in areas of interest to AsherXino, with a guaranteed right to participate; and

· Access to first class global offshore drilling expertise and drilling management services, thus significantly enhancing the ability to deliver on projects in the current tightly constrained drilling services market.

Under the agreement, AsherXino has the option but not the obligation, to participate with Petrolog International under its international joint venture agreement with leading integrated offshore companies exclusive to West Africa.

Acquisitions and Divestitures News in Nigeria >>

Australia >>  12/13/2017 - Cue Energy Resources Ltd (CUE) is pleased to advise that through its 100% owned subsidiary, Cue Exploration Pty Ltd, it has agreed to extend the 42.5...
Israel >>  12/13/2017 - Energean Oil & Gas is pleased to announce that Energean Israel has been awarded five offshore exploration licences within the Israeli Exclusive Econom...

Russia >>  12/12/2017 - NOVATEK has concluded an agreement to acquire Chernichnoyefrom oil company 'Mangazeya' JSC. The transaction is expected to close in early 2018. ...
United Kingdom >>  12/11/2017 - Premier has entered into a sale and purchase agreement (SPA) to sell its entire equity interest in the Esmond Transportation System (ETS) pipeline to ...

United States >>  12/11/2017 - Oasis Petroleum Inc. has entered into a definitive purchase and sale agreement with Forge Energy to acquire 20,300 net acres in the Delaware Basin (th...
United States >>  12/8/2017 - CMA CGM Group, a world leader in maritime transport, announces that it has completed the acquisition of MERCOSUL Line. MERCOSUL Line is one of the lea...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  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 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |

More News

 

Oil & Gas Companies in Nigeria >>


Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.