African Petroleum (APCL) has announced it has entered into a new PSC with Ophir Energy on its CI-513 licence area, Côte d’Ivoire. Ophir will take a 45% interest in return for a US$16.9m contribution towards APCL’s back costs and paying an additional 10% towards drilling costs. Importantly, the PSC has also been renegotiated to reflect the current commodity price environment and outlook for deepwater developments. This has resulted in an extension of the minimum work commitme
06 Jan 2016
Farm-out signed with Ophir
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Farm-out signed with Ophir
- Published:
06 Jan 2016 - Author:
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African Petroleum (APCL) has announced it has entered into a new PSC with Ophir Energy on its CI-513 licence area, Côte d’Ivoire. Ophir will take a 45% interest in return for a US$16.9m contribution towards APCL’s back costs and paying an additional 10% towards drilling costs. Importantly, the PSC has also been renegotiated to reflect the current commodity price environment and outlook for deepwater developments. This has resulted in an extension of the minimum work commitme