PA Resources Buys License in Congo

Source: www.gulfoilandgas.com 10/3/2006, Location: Africa

PA Resources AB has entered into a heads of agreement to acquire 85% interest in a Production Sharing Agreement in block Marine XIV offshore Congo, the informs that the up-front consideration for the company owning the Licence interest amounts to USD 13 mill. In addition, PA Resources estimates the accumulated capital expenses for the development of the Likoufou Marine discovery to be USD 7,5/bbl. The preliminary development plan estimates first oil within 2-3 years depending on rig availability with a peak production of 20.000 bbls per day.


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Related Articles: 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  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


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