Afren Inks MOU with Gasol, EDF to Develop Gas Assets in West Africa
Afren plc has signed a Memorandum of Understanding withElectricite deFrance ("EDF") and Gasol plc to examine establishing a gas aggregation joint venture to identify and develop onshore and offshore stranded gas assets in certain identified West African countries.
The proposed joint venture will develop gas to proven status, construct requisite collection networks to aggregate, and deliver the gas to a central gas processing hub for domestic use and / or export to global markets as Liquefied Natural Gas ("LNG").
It is envisaged that Afren and EDF will share participation in developing the exploration and production gas assets to proven status, and that EDF and Gasol will share participation in the collection of the gas, and its processing, liquefaction and monetization.
This follows the Company's co-operation agreement with E.ON Ruhrgas AG and Gasol toinvestigate the availability and accessibility of gas in Nigeria, with a focus on the Anambra Basin and South Eastern regions, announced in January 2008.
- Independents Go Big in North Sea (Jan 03)
- Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition (Jul 22)
- Premier Oil's Shares Remain Suspended amid Proposed E.ON Deal (Jan 14)
Company: Afren PLC more info
- Lekoil Acquires Afren's Stake in the Ogo Field Offshore Nigeria (Dec 01)
- Oil Producer Afren's Board to Put Company into Administration (Jul 31)
- Afren Requests Suspension of Shares (Jul 15)
Company: Gasol plc more info
- Gasol Makes Headway in Gulf of Guinea for 2009 (Dec 18)
- Gasol Completes Funding to Support 2009 Business Development (Aug 20)
- Gasol Appoints Chairman of Zafiro Steering Committee in Equatorial Guinea (Jun 26)