Africa petroleum extends to West Africa
African Petroleum has extended its investment prowess in the West Africa region with a crucial deal in Senegal. The company has described its Senegal acquisition as an important step towards its drive to become a leading stakeholder in the petroleum sector in West Africa.
The Oil and Gas Exploration Company, which is focused on offshore West Africa with current projects off the coast of Gambia and Liberia, said it has acquired two offshore exploration permits in Senegal.
The agreement between African Petroleum and the Senegalese authorities was reached through African Petroleum’s Dakar based subsidiary, African Petroleum Senegal Limited, which is wholly owned by the parent company.
Details of the agreement between African Petroleum, Petrosen and the Senegalese government covers two offshore blocks of Rufisque Profond and Senegal Sud Profond.
African Petroleum has 90 per cent interests in both blocks, covering a total surface area of 18,277 sq kilometres, according to a statement on the company’s website.
The firm said its Senegal exploration programme will target deep water Upper Cretaceous submarine fans in the West African country, which are considered to have similar high impact potential as discoveries in the Jubilee field in Ghana and the Mercury discovery in Sierra Leone.
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