Gulf Oil and Gas accountACCOUNT

Energy Inc. to Extend Phase I in JDZ Blocks

Source: www.gulfoilandgas.com 9/30/2010, Location: Africa

ERHC Energy Inc. a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of West Africa, announced that the Joint Development Authority (“JDA”) has approved a 6-month extension of Exploration Phase I in Joint Development Zone Blocks 3 and 4. The extension will enable the contracting parties to complete all studies needed for further exploration in the Blocks.

Earlier this month, ERHC supported Addax Petroleum, ERHC’s technical partner and the operator of JDZ Blocks 3 and 4, in applying to enter into Exploration Phase II pending the completion of the studies. Instead, agreement was reached with the JDA to further extend Exploration Phase I to enable completion of the studies before commencement of Phase II.

“To date, there has been a tremendous amount of work carried out to update volumetrics of the resources, analyze geochemical samples, interpret sample analysis and reevaluate play concepts, but more time is required to conclude the study program,” said ERHC CEO Peter Ntephe. “ERHC acknowledges the commitment and efforts of the Operator as well as the continued support and cooperation of the JDA."

The outcome of a similar dialogue between the contracting parties and the JDA on JDZ Block 2 is expected shortly.

ERHC has 22 percent interest of JDZ Block 2, 10 percent interest of JDZ Block 3 and 19.5 percent interest of JDZ Block 4. The contracting parties’ commitments on Exploration Phase I of JDZ Blocks 2, 3 and 4 were successfully met with the drilling of five wells in the three blocks between August 2009 and January 2010. All the wells were completed within time and according to budget. Natural gas was discovered in at least three of the wells.

Exploration News in Nigeria >>

Egypt >>  6/12/2019 - The Ministry of Petroleum and Mineral Resources will launch a new international tender for the exploration of natural gas in the western Mediterranean...
Russia >>  6/6/2019 - Gazprom Neft, Rosgeologia (Rosgeo) and the Tomsk Oblast have signed a Technology Partnership Agreement at this year’s St Petersburg International Econ...

Angola >>  6/3/2019 - Eni has made the fifth oil discovery in one year in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Agidigbo exploration pros...
Mexico >>  5/28/2019 - Union Cuba-Petroleo (CUPET) has announced Cuba's First Licensing Round and has invited oil companies interested in carrying out exploration and exploi...

United Kingdom >>  5/27/2019 - The largest oil companies are playing an increasingly important role in high impact exploration but performance was down in 2018, limited by a lack of...
Congo >>  5/24/2019 - President of LUKOIL Vagit Alekperov discussed prospects for bilateral cooperation with Denic Sassou Nguesso, President of the Republic of the Congo. E...

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 | 14 |

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.