Petroleum Africa
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Monday, January 23, 2017
ERHC Energy Inc. signed a MoU with an Starcrest Nigeria Energy Ltd. Under terms of the MoU, the parties will explore joint participation in Nigerian oil and gas exploration and production opportunities, as may be mutually agreed.
The company said it expects to enter into additional agreements with Starcrest in due course. The parties are currently in discussions over specific projects and investment opportunities in the parties’ respective assets.
Starcrest has interests in several Nigerian oil and gas exploration and production blocks including OPL 291 and OPL 242. Starcrest also has an indirect interest in OML 40 (through its stake in Elcrest Exploration and Production Ltd, the 45% holder of the block). Starcrest is a member of the Chrome Group of companies, the founder of which is Sir Emeka Offor, a shareholder in ERHC.
ERHC’s onshore exploration assets include a 35% interest in Block 11A in northwestern Kenya and a 100% interest in Block BDS 2008 in Chad. ERHC’s offshore interests include 100% of the rights to Block 4 in the São Tomé and Príncipe EEZ as well as interests across several oil blocks in the Nigeria – São Tomé and Príncipe JDZ.
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