Farm-out-Agreement
Tullow and Africa Oil prepare Lokichar Development The independent company Tullow Oil plc (Tullow) from UK and the Vancouver-based Africa Oil Corporation (Africa Oil) have accumulated sufficient reserves over the last two years to reach the threshold to develop the Blocks 10BB and 10A of the South Lokichar Basin in the north of Kenya in […]
Kingfisher to lead Lake Albert and refinery projects After resolving tax and refinery disagreements between Tullow Oil plc (Tullow) from UK, Total from France, the China National Offshore Oil Corporation (CNOOC) from China and the Uganda Government, the Kingfisher project is ready to take off. The Kingfisher project is to develop the previously called Block-3A […]
Eni discoveries trigger debate on upstream localization In September 2012, the Italian national oil company Eni and its partners, Vitol from The Netherlands and the Ghana National Petroleum Company (GNPC), made the first oil discovery in the Offshore Cape Three Point (OCPT) block in the Tano Basin about 50 kilometers offshore Ghana. The exploration and […]
Total and JX NOEX acquire stake in Myanmar M-11 PTT Exploration and Production (PTTEP), the national oil company in Thailand, Total from France and JX Nippon Oil & Gas Exploration (JX NOEX) from Japan, decided to join hands into a partnership to further explore and develop the offshore Myanmar oil and gas fields in the […]
Cairn, San Leon, Genel increase footprint in Morocco On the same week, Cairn Energy (Cairn) announced to sign a Farm-in Agreement for offshore exploration and production while San Leon Energy (San Leon) extended its oil shale onshore acreage, both in Morocco. These moves reflects the potential of resources and the momentum taken by Morocco in […]
Shell, CNOOC and CNPC sign China and Gabon deals July 2012, Shell, China National Offshore Oil Corp (CNOOC) and China National Petroleum Corp (PetroChina or CNPC) announced to have signed several contracts for oil and gas production sharing and co-operation in China and in Gabon. In these agreements: – Shell and CNOOC signed two offshore oil and gas Production Sharing Contracts (PSCs) in China. […]
Definition Farm-in-Agreement is a contract signed between two companies, the Farmor and the Farmee, where the Farmor is the owner of the acreage and the Farmee is willing to perform the drilling and exploration in the acreage of the Farmor. The Farm-in-Agreement is very similar to the Farm-out-Agreement in the way that in both cases it […]
