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Assala has 4 Licence Renewals & New Exploration Acreage Acquisitions

Source: 10/28/2019, Location: Africa

Assala Energy announced a 25-year renewal of four of its onshore production licences, as well as the acquisition of three new onshore exploration licences.

Since its arrival in Gabon in late 2017, Assala Energy has demonstrated its capacity to deliver consistently on its objectives safely and responsibly. In the past two years, the company’s affiliate, Assala Gabon has drilled 11 new wells and performed 44 workovers, successfully reversing the natural decline in production. The company has invested over 300 million USD in asset redevelopment, asset integrity, maintenance and safety while internalising expertise and enhancing skills in its 500 local workforce.

Assala Energy’s awards comprise renewals for the Rabi Kounga II, Toucan II and Bende M’Bassou Totou II licences, already operated by Assala Gabon and the Atora II non-operated licence. On the exploration side, the three licences (Mutamba-Iroru II, Nziembou II & Ozigo II) surround Assala’s existing producing fields and infrastructure and span the same pre-salt geological fairway. The Mutamba-Iroru II licence includes the undeveloped NGongui discovery.

David Roux, Assala Energy’s Chief Executive Officer stated, “This is an exciting time for Assala, both as an active, economic investor in Gabon and a responsible employer. We are privileged to work on some of the most significant natural resources available in Sub-Saharan Africa that continue to represent a great opportunity for the oil industry in Gabon. This transaction reinforces not only the long-term future of the business but also the associated direct and indirect local employment opportunities. We will continue to deliver operations through best-in-class safety, environmental and social performance with transparent stakeholder partnerships. We look forward to continuing our work with the government of Gabon in the development of the country’s energy sector.”

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

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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  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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