Gabon selects 7 oil, gas firms for final offshore block talks

Gabon’s oil ministry has selected seven firms for a final round of negotiations as part of an offshore licensing round to boost production.

Offshore staff

DAKAR, Senegal –Gabon’s oil ministry has selected seven firms for a final round of negotiations as part of an offshore licensing round to boost production. The new blocks are situated in deep offshore waters.

Impact Oil & Gas Ltd, Repsol YPF S.A., Perenco, ExxonMobil,Marathon, PETRONAS, and Ophir Energy were ranked highest after bidding for a total of nine blocks, according to an oil ministry statement.

"These companies listed are invited to finalize negotiations for the signature of the relevant CEPPs (exploration and production sharing contracts) as soon as possible," according to a statement signed by Minister for Oil and Hydrocarbons Etienne Dieudonne Ngoubou.

Cobalt International Energy, Noble Energy Inc., Royal Dutch Shell, andTotal S.A. ranked second or third place for the blocks, and the ministry said it had the right to open negotiations with the lower-ranking firms if talks with the first selected companies were unsuccessful.

07/21/2014

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