In December 2015, African Petroleum (APCL) announced it had entered into a farm-down agreement with Ophir Energy over its CI-513 licence area. On 10 March the transaction completed. This will trigger a payment of US$16.9m towards APCL’s back costs, provide it with a well-funded partner and is a vote of confidence in its asset quality. The deal was made possible by the flexibility shown by the Côte d’Ivoire government to make fiscal terms more attractive and the extended dril
18 Mar 2016
Ophir farm-down deal complete
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Ophir farm-down deal complete
- Published:
18 Mar 2016 -
Author:
Will Forbes -
Pages:
3
In December 2015, African Petroleum (APCL) announced it had entered into a farm-down agreement with Ophir Energy over its CI-513 licence area. On 10 March the transaction completed. This will trigger a payment of US$16.9m towards APCL’s back costs, provide it with a well-funded partner and is a vote of confidence in its asset quality. The deal was made possible by the flexibility shown by the Côte d’Ivoire government to make fiscal terms more attractive and the extended dril