Oyster Enters Phase II of PSC Offshore Djibouti

Source: www.gulfoilandgas.com 3/26/2014, Location: Africa

Oyster Oil and Gas Ltd. ("Oyster") is pleased to announce that is has committed to enter into Phase II of the Production Sharing Contract (PSC) with the Government of the Republic of Djibouti.

PSC Phase II has an effective date of March 1, 2014 and is for a three year duration ending February 2017. The PSC covers three onshore blocks, Blocks 1, 2 and 4; as well as one offshore block, Block 3, covering in total approximately 3.5 million acres gross, Oyster holds a 100% in the four blocks.

Oyster completed a geophysical and gravity survey in December 2013, processing and interpretation are currently underway and the results are expected in Q2 2014. Oyster will be initiating its Phase II work program in April 2014 with additional geological field work studies. The PSC, Phase II includes work program commitments to complete a 2D seismic acquisition and a drilling obligation.

For more information about related Opportunities and Key Players visit West Africa Projects


Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...

Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...

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 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.