Continental Focus, International Reach

Senegal Offers Disputed Block in Upcoming Bid Round

Wednesday, November 6, 2019

PetroNor released a statement today noting the news that the authorities of Senegal have included the block Senegal Offshore Sud Profond (SOSP), in which PetroNor holds a stake in through a subsidiary, in a recently launched licensing round covering all open blocks in Senegal’s offshore area.

The statement of PetroNor read: “African Petroleum Senegal Limited, a subsidiary of PetroNor, remains in arbitration proceedings with the Government of Senegal and continues to reserve its rights to a 90% operating working interest in SOSP. As such, this update has no impact on the arbitration process and the Board of PetroNor remains steadfast in its legal position, and looks forward to having the matter resolved through either the independent channels of arbitration or via a satisfactory settlement agreement in the interest of all parties.”

The announcement was issued by the relevant Senegalese authorities at the Africa Oil Week conference in Cape Town.