ATI Petroleum Ltd. is awarded the rights to C2 and C3 blocks in the Congo Central Basin. The Board of Directors of ATI Petroleum Ltd. has successfully negotiated exploration and development rights in the Republic of Congo’s Central Basin. ATIP’s dedicated Paris-based team, including Christophe Giovanetti and Benoit Chatel, and spearheaded by ATIP CEO Dr. Huu Duc Dinh, brought the extensive negotiations to a close for Block C2 and C3.
The ATIP delegation was warmly received by the Ministry of Energy and Mining. After a long series of negotiations, on September 7, 2007, ATIP was able to obtain two of the most desirable blocks in the Central Basin. ATIP’s special independent oil consultant had performed a technical evaluation that recommended Block C2 and C3 over any other available acquisitions. ATIP is happy to obtain this concession because the Republic of Congo has been emerging as a primary African country with significant oil assets. Recently, Total, for instance, has returned to Congo to enhance its original investment. The original exploration data on Block C1 was performed by Esso and Texaco.
