- Global Markets: LNG Buyers in Asia Look to Resell Supply
- Global Oil & Gas: EU Rules on Methane Curbs May Boost LNG Industry - Exxon
- Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe
- Global Oil & Gas: Oil Unchanged as Market Struggles for Direction
- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
Africa: Nigeria, Sao Tome & Principe and Total sign oil Production Sharing Contract
Nigeria, Sao Tome and Principe and Total SA signed an oil production sharing contract on Thursday, according to a joint statement.
“Nigeria and Sao Tome and Principe through their joint oil zone organization have signed a production sharing contract with Total E&P (Exploration and Production) Nigeria Limited that will prospect for oil in three blocks,” the statement said.
Nicholas Terraz, the managing director of Total E&P, said the company would take on 100 percent of the financing, but may seek partners as discoveries are made.
The estimated reserves of the blocks – 7, 8 and 11 – were not disclosed, but Total will be the first to do seismic studies, the statement said.