|
Genel Energy PLC - Oil company with exploration and production operations in northern Iraq - On Wednesday says it signed an eight-year petroleum agreement and association contract with the Office National des Hydrocarbures et des Mines for the Lagzira block in Morocco. Adds that the contract has ‘attractive fiscal terms.’ Launches a process to find a partner to take a ‘material’ equity position and to jointly pursue the exploration programme in the block, with the opportunity to drill and test one of the high-graded prospects. Explains that the Lagzira block is a large offshore licence, in water depths of 200-1,200 metres, with a proven petroleum system. Current stock price: 126.80 pence 12-month change: down 13% Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
