Republic of Togo to Launch Offshore Licensing Round

The Minister of Mines, Energy and Water (MMEW) announces the details of a bid round for granting petroleum permits in the Togolese territorial waters in 2005, the formal launch took place on November 2, 2005 and will concern a block in deepwater, called "Block B."

Starting from the date mentioned above, all direct negotiations will be terminated and the area will be closed until granting of said block takes place during the call for bids round.

The area being offered, somewhat explored, covers an area close to 4,000 sq km in deep waters off the Togolese coastline. About 656 km of new 2D seismic data, 3,000 sq km of 3D seismic data, well information and a regional interpretation carried out for this bid round will be made available by the company TGS-NOPEC Geophysical Company.

Petroleum companies are invited to come and evaluate the Togolese petroleum potential and submit bids for the offered block.

We propose a production sharing contract model with attractive terms and a negotiable work program. The call for bids 2005 deadline is May 1, 2006.