Niko move into Pakistan Arabian Sea offshore development deal
2008.03.03 -
Field Development
Niko Resources Ltd. (TSX:NKO) is pleased to announce the company has signed four (4) Offshore Production Sharing Agreements (PSA's) with the President of the Islamic Republic of Pakistan and Government Holdings (PVT) Limited, through the Secretariat of the Ministry of Petroleum and Natural Resources. Niko will have a 100% Participating Interest in the Blocks.
The Blocks are situated in the Indus Fan system, the second largest submarine fan in the world and cover an area of approximately 10,000 sq. km. Water depths range from transition zones (onshore to offshore) to deep water. Work in the country will begin immediately to establish an operating presence and organize the seismic survey work within the first year of the Contract.
PA Resources AB has signed an agreement with the shareholders to acquire the entire share capital of the British oil exploration company Scotsdale Ltd. The company is focusing on low risk exploration in North West Europe. The acquisition means that PA Resources increases its presence in the North Sea with licenses in the United Kingdom and Denmark, and potentially also in the Netherlands.
Aker Exploration has entered into agreements with the international oil company Eni Norge to acquire ownership interests in two licenses in the vicinity of the Åsgard field. The agreements further strengthen Aker Exploration’s position in the Norwegian Sea.
SCAN Geophysical ASA (SCAN) today announced that the company is
remobilising its seismic vessel, M/V Geo Searcher, to re-commence a previously-suspended
2D project offshore Pakistan for BP.
The Norwegian Petroleum Directorate (NPD) has granted ENI Norge AS a drilling permit for wellbore 34/12-1 in the North Sea.
Eni has successfully drilled the last appraisal well, encountered approximately 127 metres (419 ft) of net pay in multiple sands. The initial analysis indicates good reservoir quality.
