South Atlantic Petroleum Ltd. Company News

Benin's government says it hopes oil production would restart in the West African nation next year in blocks controlled by South Atlantic Petroleum (SAPETRO) from neighbouring Nigeria.

The Nigeria National Petroleum Corporation greenlights Total and its OML 130 partners to award EPC contracts for the Egina development.

CNOOC together with its subsidiaries, signed a definitive agreement with South Atlantic Petroleum Limited to acquire a 45% working interest in an offshore oil mining license "OML 130" in Nigeria for US$2.268 billion cash.

A risk-averse Indian government panel rejected petroleum exploration company ONGC Videsh Ltd.'s plan to acquire a 45% stake in an offshore oil and gas field in Nigeria for around $2 billion because it wasn't commercially viable.