DNO Acquires Operatorship of Onshore Mozambique Block
DNO has acquired an 80% interest and operatorship in an exploration license, the Inhaminga Block, onshore Mozambique close to the city of Beira. An Exploration and Production Contract (EPC) was signed on June 27th with the Ministry of Mineral Resources and Energy in the capital Maputo with an initial contract commitment to drill an exploratory well to the base Grudja formation within a period of 18 months. Sands in the Grudja formation represent the producing reservoirs of the Pande and Temane gas fields presently being developed by Sasol some 200 kilometers south of the Inhaminga block. US-based exploration firm, Wilrusco, holds the remaining 20% of the license.
The authorities of Equatorial Guinea have ratified the agreement earlier negotiated by a consortium consisting of Ocean Energy (now Devon Energy), Petronas, Atlas Petroleum and DNO for the Block P offshore Rio Muni in Equatorial Guinea. The state owned company, GePetrol, has been assigned an interest of 20%. DNO's participating interest is 5.0% with a paying interest (exploration) of 6.25%.
- KRG Delivers Payments to Genel, DNO, Gulf for Tawke, Shaikan Production (Jan 23)
- DNO Makes Oil Find in Kurdistan Region of Iraq (Jan 09)
- Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 03)
Company: Devon Energy more info
- Shale Drillers Show Few Signs of Slowing as Profits Expand (Aug 02)
- Devon Energy Trims Full-Year Spending (Aug 01)
- Devon Energy Plans To Divest $1B Assets; Profit Beats (May 02)