Psc News


Tower Finds Farm-In Partner for Thali Block in Cameroon

Mar 03, 2020

Tower Resources has found a farm-in partner for its Thali block offshore Cameroon. The company on Monday said it had executed binding heads of terms for a farm-out of a Thali block share with OilLR Pty Ltd. The farm-out covers US$7.5 million…

Tower Resources: Farm-out Talks Progressing Well

Feb 19, 2020

Tower Resources Cameroon SA, a wholly-owned subsidiary of Africa-focused Tower Resources Plc, has hinted at good progress on the ongoing discussions with potential farm-in parties into the Thali PSC offshore Cameroon.The progress in the negotiations…

Coro Energy Awaits Approval on Duyung

Feb 10, 2020

Southeast Asian focused upstream company Coro Energy Plc said that Duyung PSC partners have agreed to a six-month extension for receipt of the necessary Indonesian approvals for the transfer of a 15 percent interest in the Duyung PSC offshore IndonesiaIn February 2019…

Coro Energy Pulls Out of Bulu PSC Deal

Jan 31, 2020

The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing  increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…

EnQuest Awarded Block PM409 PSC

Dec 04, 2019

Independent oil and gas production and development company EnQuest said it has been awarded the Block PM409 Production Sharing Contract (PSC) in partnership with Petronas Carigali Sdn Bhd (PCSB) by Petronas. Under the terms of the PSC, EnQuest…

Tullow Acquires 35% Stake in Comoros PSC

Nov 29, 2018

The wheels of discovering and exploiting hydrocarbon resources offshore the Union of the Comoros, off Africa's east coast, may have been moving albeit slowly since 2008 when the government first invited bids for exploration of oil and gas in the Indian Ocean's volcanic archipelago…

Santos to drill off Indonesia

Dec 29, 2017

Australia's Santos is planning to drill the Paus Biru-1 exploration well on the Sampang production sharing contract offshore Indonesia, says partner Cue Energy Resources. Paus Biru is 27km east from the producing Oyong gas field. The…

Ophir inks new Equatorial Guinea PSC

Oct 18, 2017

Equatorial Guinea's Ministry of Mines and Hydrocarbons, Ophir Energy and national oil firm GEPetrol have signed a new production sharing contract (PSC) for Block EG-24 offshore Rio Muni. Block EG-24 (formerly Block EG-20 and Block M)…

African Petroleum seeks Senegal extension

Oct 17, 2017

Independent oil firm African Petroleum has applied to enter a second renewal period at the Senegal Offshore Sud Profond (SOSP) production sharing contract (PSC).  The firm is also hoping to swap a commitment to drill a well for a 3D seismic…

CNOOC, SK Innovation enter South China Sea PSC

Sep 06, 2017

CNOOC has signed a production sharing contract (PSC) with South Korea's SK Innovation for Block 17/08 in the South China Sea. Block 17/08 is in the Pearl River Mouth basin, covering a total area of 466sq km with a water depth of 100-130m…

Hyperdynamics, Sapetro close farmout deal

Jun 07, 2017

Hyperdynamics’ wholly owned subsidiary SCS Corp. (SCS), and South Atlantic Petroleum (Sapetro) have completed the closing of their farmout agreement, becoming full 50/50 partners in the production sharing contract (PSC) with the Republic of Guinea…

Hyperdynamics starts drilling operations at Fatala

May 24, 2017

Hyperdynamics started drilling operations earlier this week at the Fatala turbidite fan prospect offshore Guinea, West Africa. On 21 May, the Pacific Scirocco drillship entered Guinea shelf waters. Due to an amendment to the drilling contract…

Jadestone exits Bone PSC off Indonesia

May 23, 2017

Jadestone Energy has withdrawn from the Bone production sharing contract (PSC) offshore Indonesia, with partner AziPac ready to take over. Map of the Bone PSC, from Jadestone. The…

SCS, Sapetro amend Guinea PSC

Apr 20, 2017

Hyperdynamics Corp.’s wholly owned subsidiary, SCS Corp. (SCS), South Atlantic Petroleum (Sapetro) and the government of the Republic of Guinea have executed a third amendment to the 2006 production sharing contract (PSC), to approve the…

BW completes Dussafu deal

Apr 10, 2017

BW Offshore has completed a deal with Harvest Natural Resources for its stake in the Dussafu production sharing contract (PSC) offshore Gabon. BW Energy Gabon (BWEG) now holds a 66.67% working interest in the Dussafu PSC, while Panoro Energy holds the remaining 33…

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