Pancontinental aims to retain lapsed PSC offshore Kenya

Pancontinental Oil & Gas has met with the Kenyan Ministry of Energy and Petroleum to discuss the offshore block L8 production-sharing contract (PSC).

Offshore staff

PERTH, Australia – Pancontinental Oil & Gas has met with the Kenyan Ministry of Energy and Petroleum to discuss the offshore block L8 production-sharing contract (PSC).

Operator Apache recently decided not to pursue further exploration and the PSC has now expired. Origin, Pancontinental, and Tullow are the other partners.

Pancontinental has requested negotiations with the Ministry and a potential co-venturer for the grant of a new PSC for the block.

The company hopes to negotiate new terms that better reflect production-sharing and a revised forward work program.

02/27/2014

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