Gulf Oil and Gas accountACCOUNT

Agreement on the Hassi Ba Hamou Permit

Source: www.gulfoilandgas.com 2/3/2012, Location: Africa

Share |
Gulf Keystone is pleased to announce that all required documentation has been executed and all necessary Government approvals obtained pursuant to the agreement between the Company and BG Group, the Operator, providing for the transfer of the Company's right, title and interest for no consideration in the Hassi Ba Hamou (HBH) Permit to the Operator and Sonatrach.

This development is in line with the Company's announced decision to undertake a gradual strategic exit from Algeria in order to focus on its extensive operations in the Kurdistan Region of Iraq.

Todd F. Kozel, Gulf Keystone's Executive Chairman and Chief Executive Officer commented: "We are pleased that with the HBH transfer we have made good progress towards achieving our goal of a gradual strategic exit from Algeria. We are firmly focused on our operations spanning four exploration blocks in the Kurdistan Region of Iraq, including the Shaikan world-class discovery, where the 2012/13 high impact drilling campaign is currently underway following excellent results achieved in 2011."

Acquisitions and Divestitures News in Algeria >>

Russia >>  5/25/2018 - Total has signed an agreement with Novatek outlining the terms upon which Total shall acquire a direct working interest of 10% in Arctic LNG 2, a gian...
United Kingdom >>  5/24/2018 - Faroe Petroleum, the independent oil and gas company focussing principally on exploration, appraisal and production opportunities in Norway and the UK...

United States >>  5/24/2018 - Callon Petroleum Company announced that its wholly owned subsidiary, Callon Petroleum Operating Company, has entered into a definitive agreement to ac...
Brazil >>  5/23/2018 - Petroleo Brasileiro S.A. (Petrobras) is considering a partial sale of its world-class development, appraisal and exploration concessions in the Sergi...

Italy >>  5/23/2018 - Algerian state energy firm Sonatrach has no plans to buy another foreign refinery after purchasing the Augusta refinery in Italy, Chief Executive Abde...
Peru >>  5/23/2018 - The government of Peruvian President Martin Vizcarra canceled his predecessorís decision to award five offshore oil contracts to London-based Tullow O...

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 


Algeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

Oil & Gas Projects in Algeria >>

More News

 

Oil & Gas Companies in Algeria >>


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. - Terms of Service - Privacy Policy.