Brief: Petronor Signs Licence Agreement In Gambia

Petronor E&P ASA

18/11/2022 07:41

Nov 18 (Reuters) - Petronor E&P ASA  PNOR.OL :
    * PETROLEUM, EXPLORATION, DEVELOPMENT AND PRODUCTION LICENCE
AGREEMENT SIGNED IN GAMBIA
    * HAS DECIDED TO EXERCISE ITS RIGHT TO CONTINUE WITH
PETROLEUM,
EXPLORATION, DEVELOPMENT AND PRODUCTION LICENCE AGREEMENT FOR A4
LICENCE IN GAMBIA
    * PETRONOR AND GAMBIA NATIONAL PETROLEUM CORPORATION HAVE
ALSO
SIGNED JOINT OPERATING AGREEMENT FOR A4 LICENCE OFFSHORE GAMBIA
    * TERMS OF "PEPLA" ALLOW CO TO PHASE COMMITMENTS VIA
EXTENDED
INITIAL EXPLORATION PERIOD OF THREE YEARS WHICH IS SPLIT INTO
TWO PHASES OF 18 MONTHS EACH
    * WILL HAVE OPTION TO CONTINUE LICENCE AFTER FIRST PHASE AND
COMMIT TO DRILLING A WELL IN FOLLOWING 18-MONTH PHASE

Source text for Eikon:  ID:nObiMvt8Xa 
Further company coverage:  PNOR.OL 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))