Bowleven has completed a farm-out with Vitol E&P concerning the Etinde permit offshore Cameroon.
Offshore staff
EDINBURGH, UK -- Bowleven has completed a farm-out with Vitol E&P concerning the Etinde permit offshore Cameroon.
Under this arrangement, first announced last August, Vitol will acquire a 25% interest in the permit by funding a $100-million work program.
Vitol has another option (to be exercised by Sept. 30) to secure a further 25% in the concession in return for funding a further $100-million program and making a $25-million cash payment to Bowleven to progress activities on Etinde.
