Côte d’Ivoire confirms Ophir entry into offshore permit
African Petroleum says a new production-sharing contract with Ophir Energy is now in effect over the CI-513 license area offshore Côte d’Ivoire following ministerial approval.
Ophir will contribute $16.9 million toward African Petroleum’s back costs in relation to the block, and will become operator with a 45% interest.
African Petroleum retains a 45% stake with national oil company Petroci holding a 10% carried interest.
In addition, the partners have secured an extension to previous minimum work commitments.
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