Gulf Oil and Gas accountACCOUNT

Exxonmobil Signs PSC For Exploration Activities In Nigeria-Sao Tome Block-1 PSC

Source: www.gulfoilandgas.com 2/1/2005, Location: Africa

IRVING, TEXAS -- Exxon Mobil Corporation announced today that its subsidiary, Esso Exploration and Production Nigeria-Sao Tome "One" Limited, has signed a Production Sharing Contract (PSC) with the Nigeria - Sao Tome and Principe Joint Development Authority (JDA) and consortium co-venturers ChevronTexaco and Dangote Energy Equity Resources, to explore for commercial hydrocarbons in Block 1 of the offshore Joint Development Zone (JDZ).

ExxonMobil appreciates the opportunity to be one of the first companies to work with the JDA in the joint development zone," said Tim Cejka, president of ExxonMobil Exploration Company. "There are large areas around the world with significant hydrocarbon potential that are off limits because they lie under unresolved international territories. We hope that Nigeria's and Sao Tome and Principe’s approach will be emulated by others as growing world energy demand will continue to require new sources of supply."

The signing of the PSC provides for Block 1 exploration to proceed in the JDZ, followed by economic development of discovered resources, if successful, for the benefit of both nations. It also provides for disclosure of payments made under the contract, in keeping with the transparent manner in which the bid round was conducted. The consortium fully supports these efforts to ensure openness and public accountability in oil and gas activities in the JDZ. Consortium members include Esso Exploration and Production Nigeria-Sao Tome "One" Limited (40 percent), ChevronTexaco JDZ Limited (51 percent, operator), and Dangote Energy Equity Resources (9 percent). The block was awarded in April 2004 and is located in 5,700 feet (1,800 meters) of water approximately 190 miles (300 kilometers) north of the city of Sao Tome.


Exploration News in Nigeria >>

United Kingdom >>  4/9/2019 - AIM-listed Egdon Resources has announced the results of a Competent Person's Report ('CPR') prepared by Schlumberger Oilfield UK in relation to the Re...
Australia >>  4/8/2019 - Carnarvon Petroleum and its Joint Venture partner and Operator, Santos, have moved quickly to appraise the Dorado discovery made in the third quarter ...

Oman >>  4/8/2019 - Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) have signed a Heads of Agreement (HoA) for the award to Total of an exploration l...
Egypt >>  4/7/2019 - Minister of Petroleum and Mineral Resources Tarek el Mullah conferred with his Saudi counterpart Khaled el Faleh on means of boosting joint cooperatio...

Lebanon >>  4/5/2019 - The Lebanese government has approved the opening of the country’s much-anticipated 2nd offshore licensing round. Interested companies will be expected...
Colombia >>  4/4/2019 - The Arrecife 1ST well proved the presence of gas in the Municipality of Pueblo Nuevo, Cordoba. The Arrecife well is part of the Exploration and Produc...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |

Oil & Gas Projects in Nigeria >>

More News

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.