Petroleum Africa
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Tuesday, June 13, 2017
Chad has reached an agreement with foreign operators in the country that will lead to an end of its tax dispute with the energy companies. The deal extends the ExxonMobil-led group’s operating license in the Doba Basin until 2050.
The deal also calls for the development of polymer injection technology to increase oil extraction, Chad’s Oil Minister Bechir Madet told AFP.
The deal lays to rest the heavy fines imposed on the consortium by a Chadian court in October. No financial details of the agreement were disclosed, but according to the AFP report, Madet denied that the consortium would pay the government $200 million.
“We are very happy with these agreements which will allow us to relaunch the consortium’s operations in Chad,” said Christian Lenoble, a spokesman for the group.
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