Petronas Inks PSC for Deep Water Block Off Gabon
- Business & Finance
PETRONAS, via its wholly owned subsidiary PETRONAS Carigali International E&P B.V., has signed a Production Sharing Contract (PSC) for Block F14 with the Republic of Gabon.
The offshore block is located in southern Gabon and measures an approximate 2,500 square kilometres surface area in water depth ranging from 2,000 metres to 3,000 metres.
PETRONAS will operate the block with an 80 per cent interest, while the Government of Gabon owns the remaining 20 per cent interest.
The signing of the PSC took place at the Arambo Building, Libreville. PETRONAS was represented by its Vice President of Exploration International, Effendy Cheng Abdullah. The Republic of Gabon was represented by H.E. Etienne Dieudonné NGOUBOU from the Ministry of Petroleum and Hydrocarbons and H.E. Christophe AKAGHA MBA from the Ministry of Economy and Prospective.
Speaking at the event, Effendy Cheng said, “The signing marked an important milestone as PETRONAS is re-entering the Republic of Gabon, now focusing on the deep water pre-salt play.”