Tullow Oil plc – Agreement to Farm-in to Block 10 in Angola

Source: www.gulfoilandgas.com 11/11/2005, Location: Africa

Tullow Oil plc announced that it has concluded a farm-in agreement with Sonangol P&P to assume a 15% interest in Block 10 offshore Angola effective from 1st October 2005. Block 10 is located in the Southern Kwanza Basin and is operated by Devon Energy. The block is covered by good quality 3D seismic through which 2 prospects have been identified for drilling within the licence area. The first of these, the Ngueve prospect in a water depth of approximately 700m, is currently being drilled and is expected to reach its target in the near future. The second well, the Henda prospect in a water depth of approximately 400m, is scheduled to be drilled immediately after the first well is completed.


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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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