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Wednesday, 07 January, 2009, 17:30 GMT | more >>

PA Resources to buy into Congo block



By Upstream staff 

Sweden’s PA Resources has signed a heads of agreement to buy Adeco Congo, which owns an 85% stake in the Marine 14 production sharing contract off Congo-Brazzaville.

Marine 14 lies in shallow water, in the heart of the main producing region of Congo-Brazzaville, where adjacent field production is currently about 75,000 barrels per day of oil.

Earlier exploration on the block had resulted in at least one oil discovery that flowed at about 1500 bpd.

Congo-Brazzaville’s state oil company SNPC holds the remaining 15% in the PSC.


Tuesday, 03 October, 2006, 06:56 GMT  | last updated: Tuesday, 03 October, 2006, 10:01 GMT

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