Deals - Licenses and Concessions | Deals - Farm-Out
Oando Energy Farmout in Sao Tome
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Oando Energy Resources Inc. has announced the following transactions by its 81.5% held subsidiary, Equator Exploration Ltd, relating to its blocks in the Exclusive Economic Zone of the Democratic Republic of Sao Tome and Principe.
On February 19, 2016, Equator executed a Production Sharing Contract with the National Petroleum Agency of STP for Block 12, taking an 87.5% participating interest with ANP-STP holding the remaining 12.5% as a carried interest. Subsequently, Equator has farmed out a 65% participating interest and transferred operatorship in each of Blocks 5 and 12 to Kosmos Energy Sao Tome and Principe.
The Block 5 farmout transaction was approved by ANP-STP on February 19, 2016 and the Block 12 farmout transaction was approved on 31 March, 2016.
Prior to the Block 5 farmout…
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