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Friday, June 16, 2017
Guinea Bissau’s state-run oil and gas firm, Petroguin, and GeoPartners Ltd. have signed a JV participation agreement for the exploration, development, and production of resources on Block 4B offshore the country.
GeoPartners will participate in the JV agreement through its wholly owned subsidiary, Bissau Exploration. Bissau Exploration was specifically to assist Petroguin in accelerating the development of its hydrocarbon resources.
The new partnership model, working alongside the national oil company, creates a collaborative and transparent setting for all current and future stakeholders to maximize the value created through successful exploration and the ultimate development of oil and gas in Guinea Bissau, Bissau Exploration explained.
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