Gulf Oil and Gas accountACCOUNT

Tullow Oil Provides Gabon Business Update

Source: www.gulfoilandgas.com 12/21/2006, Location: Africa

Tullow has recently acquired a package of assets from the Gabonese Government through a 50:50 Joint Venture with AIC-Petrofi Limited. The package comprises interests in three producing fields and back-in rights to a further nine Exploration Licences. Two additional fields, presently held under exploration licences, are awaiting development approval and are expected on stream over the next 18 months.

The acquisition adds approximately 350 boepd of current production net to Tullow from the Obangue (3.75%), Tsengui (3.75%)and Oba (5%) fields. As the development of these fields progresses and the two additional developments are brought on stream, net working interest production is expected to rise to approximately 1,000 boepd by early 2008.

The exploration licences are located in areas of significant potential and when combined with Tullow’s existing Gabonese interests give the Group exposure to almost 40% of Gabon’s currently licensed acreage. Although the consideration cannot be stated for reasons of commercial confidentiality, it can be confirmed that it represents less than 1% of Tullow’s market capitalisation.

Exploration News in Gabon >>

Australia >>  5/25/2020 - Queensland continues to take the lead on gas supply for the domestic market, with Santos and Denison Gas the latest to take up the hunt in the state’s...
Egypt >>  5/23/2020 - The Ministry of Petroleum and Mineral Resources said it signed seven agreements on natural gas exploration with total investments worth 975 million do...

Lebanon >>  5/19/2020 - Monday 1 June 2020 is the new deadline to submit the licensing round applications for the Lebanon Second Offshore Licensing Round. Adapting to current...
Mauritania >>  5/19/2020 - Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays. The confidence ca...

China >>  5/18/2020 - According to the relevant provisions of the Regulations of the People's Republic of China on the Exploitation of Offshore Petroleum Resources in Coope...
China >>  5/15/2020 - An exploration well Penglai-1, drilled by PetroChina Southwest Oil & Gas Company, produced 1,219,800 cubic meters of natural gas during production tes...

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  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Gabon Oil & Gas 1 >>  2 | 3 | 4 |

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 © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.