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Friday, 21 November, 2008, 20:10 GMT | more >>

PA Resources lands Brazzaville deal



By Upstream staff 

Sweden's PA Resources said it had closed its deal to buy 100% of Adeco Congo BVI, giving it access to a production-sharing agreement (PSA) off Congo-Brazzaville.

Adeco Congo BVI is parent to Brazzaville-listed Adeco Congo, which holds 85% of the PSa for the Marine 14 block off the country's coast.

The remaining 15% stake is held by Congolese national oil company SNPC.

Marine 14 lies in shallow water and is estimated to hold probable reserves of 45 million barrels of oil.


Wednesday, 20 December, 2006, 17:19 GMT  | last updated: Wednesday, 20 December, 2006, 17:19 GMT

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