African TV




Lawyers - Legal Representation






Archives

April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930  

Page added on July 19, 2012

Global News | Comment Feed: RSS 2.0 Printable versionPrint This Post Print This Post

PetroChina, African Petroleum may sign deal for Africa blocks

PetroChina, African Petroleum may sign deal for Africa blocks thumbnail

BEIJING, July 18 (Reuters) – PetroChina , Asia’s largest oil and gas producer, said it had signed a memorandum of understanding with African Petroleum Corp for a strategic investment in Africa.

PetroChina has been given until Aug. 31 to agree an investment in up to 20 percent of Block LB-09 in Liberia and up to 20 percent in one or more exploration blocks in The Gambia, Ivory Coast, Liberia, Senegal and Sierra Leone, African Petroleum said on Wednesday.

The value of the deal has not been agreed and the deal is subject to government, regulatory and other approvals, African Petroleum said.

The deal could be worth in excess of $1 billion, the Wall Street Journal reported, citing a person familiar with the matter.

“The transaction is still going on. The deal is still under negotiation,” a PetroChina official said.

African Petroleum is focusing on the exploration of Blocks LB-08 and LB-09 located offshore Liberia, West Africa, covering approximately 7,200 square kilometres. (Reporting by Wan Xu and Ken Wills; Editing by Dan Lalor).

Reuters

Stay with Sierra Express Media, for your trusted place in news!


© 2012, Sierra Express Media. All rights reserved.

Share


Comments are closed.




RELATED STORIES

Search This Site



LATEST NEWS HEADLINES

ALSO IN THE NEWS

Acqua For Life goes continental, providing safe drinking water in Africa, Latin America and Asia thumbnail Acqua For Life goes continental, providing safe drinking water in Africa, Latin America and Asia

GIORGIO ARMANI CONTINUES THE PARTNERSHIP WITH GREEN CROSS TO SUPPORT PROJECTS IN SRI LANKA, IVORY COAST AND SENEGAL FOR FIRST TIME 22 April 2014 | Geneva, Switzerland: Giorgio Armani is expanding its successful Acqua for Life campaign in partnership with Green Cross International for the fourth consecutive year, targeting water-scarce communities in West Africa, Latin America […]

Share

MORE STORIES

US$4million project commissioned at Waterloo 500 youths employed thumbnail US$4million project commissioned at Waterloo 500 youths employed

HAVE YOUR SAY

HAVE YOUR SAY Share you views: What would you like to see more/less of on Sierra Express Media? Send us your ideas and include your name and the area you are writing from.

Our New Website Has a More Efficient Layout

Our New Website Has a More Efficient Layout We invite you to give us your feedback

MORE NEWS HEADLINES