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Star Petroleum Signs EPSA in Sudan for Block E

Source: www.gulfoilandgas.com 8/6/2010, Location: Africa

The area given to STAR PETROLEUM, Block E, has an extension of 50,000 km2, and is located in a very prolific oil basin, where, despite being little explored, more than 10 billion barrels of oil have already been discovered in 50 fields.

For years, oil companies have been competing for a contract for oil exploration and production for this area, Block E, which has finally been awarded to STAR PETROLEUM. The competition has been long and intense, since it is an area that has generated tens of billions of barrells of oil.

Its area, 50,000 km2, is equivalent in size to aout 1,000 exploration blocks in the US Gulf of Mexico.

Currently, Sudan, the largest country in Africa, produces about 600,000 barrels of oil a day from fields operated by companies CNPC of China, Petronas of Malaysia and ONGC of India. Most of the production comes from the Muglad Basin, where STAR PETROLEUM will explore.

STAR PETROLEUM, who has devoted significant resources and time to get the contract for Block E, considers that this constitutes an important milestone for the company, with a spectacular growth potential.

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