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Wednesday, June 11, 2014
Savannah Petroleum, a UK-based company has been awarded a PSC in Niger. The PSC is for blocks R1 and R2 in the Agadem basin.
“In a cabinet meeting on Friday, a decree was adopted approving the production-sharing contract between Niger and Savannah Petroleum for Blocks R1 and R2 ,” said a government statement issued late June 6. “These two blocks represent 50% of the Agadem Block, for which CNPC was given exclusive oil exploration rights in 2007,” it added.
The statement did not say if the PSC affected the CNPC’s exploration deal.
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