Austrian oil and gas firm OMV has agreed to farm in to a deepwater block offshore Gabon.
Under the terms of the agreement, OMV will acquire 30% non-operated interests in the Manga and Gnondo blocks, from Ophir Energy.
It will also acquire a 10% non-operated interests in the Mbeli and Ntsina blocks.
On completion, Ophir’s retained stakes will be 70% operated interests in the Manga and Gnondo blocks, and 40% operated interests in the Mbeli and Ntsina blocks.
OMV will pay past costs and a promoted share of the well costs on the Padouck Deep, Affanga Deep and Okala wells, the cost of two additional wells, and the cost of 3D seismic surveys which are planned across the blocks.
Further conditional promotes are payable in the event of success with the Padouck Deep or Okala wells.
Completion of this transaction is conditional on approval by the Government of Gabon.