African Petroleum negotiating Côte d’Ivoire farm-out agreement

Offshore staff

LONDON – African Petroleum has signed a binding joint bidding agreement with an unnamed oil and gas company whereby that company would get a 45% operated interest in African Petroleum’s production-sharing contract on block Cl-513 offshore Côte d’Ivoire.

Upon finalization of a commercial agreement and with government approval, African Petroleum would then hold a 45% non-operated share of the PSC and Petroci, Côte d’Ivoire’s national oil company, would hold the remaining 10%.

African Petroleum also is discussing farm-out prospects in Senegal and Gambia with potential operators.

06/30/2015

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