Madagascar consents to Ambilobe basin farm-out

Offshore staff

LONDON – Sterling Energy (UK) Ltd., a wholly owned subsidiary of Sterling Energy Plc, has executed a farm-out agreement with Pura Vida Mauritius for the production sharing contract on the Ambilobe block, offshore Madagascar. Madagascar’s government consented to the transaction.

Sterling Energy (UK) Ltd. (operator) and Pura Vida Mauritius are both 50% PSC holders. Sterling plans to acquire new seismic data as part of its 2014 work program to further investigate the potential of the Ambilobe basin.


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