Providence signs Beliz PSAs
Offshore staff
HOUSTON –Providence Energy Belize has signed a Production Sharing Agreement with the Ministry of Petroleum in Beliz covering 531 sq mi (1,375 sq km) which includes offshore acreage.
The agreement covers eight years for exploration and 25 years should an oil field be discovered.
"Exploration in Belize has hardly begun, which is interesting since nearly all of the 57 wells drilled there either had oil shows or are currently producing oil, indicating the source rock is exceptional," said Providence Energy Group CEO, Scott Bayless.
11/02/2007