Oil and gas company BW Energy has signed production sharing contracts (PSCs) with Gabon’s Ministry of Petroleum and Ministry of Finance and Economy for the Niosi Marin and Guduma Marin blocks, offshore Gabon.
The PSCs were signed in partnership with independent exploration and production company Panoro Energy and hydrocarbon exploration company VAALCO Energy.
Under the agreements, BW Energy, Panoro Energy and VAALCO Energy will carry out exploration activities, including a new 3D seismic survey and the drilling of one exploratory well over a five-year period in the 2,974 km2 Niosi basin.
The independents will also conduct geological and geophysical studies in the 1,927 km² Guduma basin over a three-year period.
BW Energy holds a 37.5% working interest and serves as operator of the blocks. Panoro Energy and VAALCO Energy hold a 25% stake and 37.5% stake, respectively.
