Tap signed the PSC, which will give it a 95% operated stake over shallow water Block M-7, with local joint venture participant Smart E&P International.
Under the terms of the PSC, the pair have agreed to carry out an 18-month environmental and social impact assessment, along with other studies.
Tap expects to spend roughly $2.75 million during this period which carries a minimum expenditure requirement of $2 million.
After
