Sasol signs exploration deal
2001-08-17 07:33
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Sasol Petroleum International (SPI) signed an agreement with
Gabon's Ministry of Mines, Energy, Petroleum and Water Resources in
Libreville on Tuesday for the exclusive rights to evaluate the
offshore Phenix Block.
A Sasol statement said the agreement, termed a technical evaluation
agreement, is the first of its kind in Gabon and represents a new
form of contract designed to encourage continued investment in
classical, well-established areas.
Sasol's agreement provides access to previously acquired data in
the ex-Phenix block for a 12 month period, which will enable
extensive studies to be conducted.
The results of these studies will be shared with the ministry and
allow informed discussions to take place between both parties about
future contract terms.
Dr Phil Vingoe, managing director of Sasol Petroleum International
said, "The Phenix block is adjacent to our recent success in the
Etame Marine Permit and we are confident that other material
opportunities exist in this area."
- SAPA