Brenham Inks PSC Agreement for Equatorial Guinea Block
Brenham Oil & Gas, a subsidiary of American International Industries, announced Thursday has executed a production sharing contract with the government of Equatorial Guinea in West Africa. Pursuant to the terms of the Agreement, Brenham received a 15 percent participating interest in newly-created Block Y, which consolidates four offshore exploration blocks into a single, half-million acre license. Xuan Energy is the operator of Block Y.
Rog Hardy, Brenham's vice president of exploration, stated, "Block Y is between and along a geologic trend with Hess Corporation's large Okume and Ceiba oil and gas field complex (which peaked at more than 80,000 barrels of oil per day) and an undeveloped oil discovery in Block P to the north, with, among other companies, VAALCO Energy. The block awarded to Brenham is large, with plenty of room to run, and is in benign operating conditions and moderate water depths. We are very excited about the exploration potential of Block Y."
Daniel Dror, Brenham's chief executive officer and president, stated, "Brenham's entry into this high-potential opportunity in West Africa is a result of our team's extensive experience in Africa with companies such as Occidental Petroleum Corporation and Unocal, and years of focused, rigorous geotechnical and commercial evaluations. We believe that Block Y has the right upside-to-risk mix and we intend for this project to be the foundation for additional quality ventures in West Africa and elsewhere. Brenham looks forward to working with the Government of Equatorial Guinea and our other partners to conduct a successful exploration campaign."
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension