Offshore staff
TORONTO – Eco Atlantic Oil & Gas has agreed to sell its interest in Eco Atlantic Ghana to PetroGulf Ghana.
State-owned companies GNPC and GNPC Explorco have both approved the transaction, which will increase PetroGulf’s interest in the offshoreThree Point West Deep Water block from its current 4.5%.
In exchange, Eco Atlantic is entitled to receive $0.576 million to cover its past operating expenditures on the block.
Gil Holzman, president and CEO, said the company would now focus on its exploration activities offshoreNamibia and Guyana.
11/23/2016
