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Gabon to Start Final Talks for Offshore Oil Blocks

Source: Reuters 7/22/2014, Location: Africa

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Gabon has selected seven companies for a final round of negotiations as part of a licensing round for its deep offshore oil blocks, the country's oil ministry said.

Here is the list of rankings for the nine blocks due to be allocated. The companies listed in the first column will be invited to finalise negotiations for the signature of CEPPs (exploration and production-sharing contracts), an oil ministry statement said.

The ministry said it has the right to open negotiations with the lower-ranking contenders if talks with the first-choice companies were unsuccessful.

Bids for another eight blocks (A5, A6, C12, E12, F12, F13, F15, G14) offered "did not reach the expectations of the Gabonese Republic", the statement said, adding that a new process for allocating these blocks would be announced shortly.

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