Oslo-listed African Petroleum Corporation Ltd (APCL) is close to finalising a merger announced in March with privately-owned explorer PetroNor.
PetroNor is a joint venture between Norway’s Nor Energy and Petromal, the oil and gas arm of Abu Dhabi’s state investment vehicle.
Key to the proposed deal is APCL's ongoing litigation to retrieve prized acreage off Senegal, contiguous to blocks where world-class field developments are currently under way, engaging the likes of BP, Kosmos Energy, Cairn Energy and Woodside Petroleum.
