{"id":466610,"date":"2019-08-09T14:49:35","date_gmt":"2019-08-09T13:49:35","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=466610"},"modified":"2019-08-09T14:49:35","modified_gmt":"2019-08-09T13:49:35","slug":"cnooc-acquires-55-of-two-exploration-blocks-in-guinea-bissau","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/08\/09\/cnooc-acquires-55-of-two-exploration-blocks-in-guinea-bissau\/","title":{"rendered":"CNOOC acquires 55% of two exploration blocks in Guinea Bissau"},"content":{"rendered":"
<\/div>

China National Offshore Oil Corp. (CNOOC), has acquired 55, 55% stake in Australian group FAR Limited in the oil licenses of the two blocks (Sinapa and Esperanca), located off the Guinea Bissau coast.<\/p>\n

In a press release on Wednesday, August 7, the Australian group FAR Limited, said it approved the request to transfer the stake.<\/p>\n

According to the same source, “the acquisition concerns licenses held by the Swedish Svenska Petroleum Exploration GB, whose shares will be reduced to 23.03% in favor of the subsidiary of the Chinese group in Africa, which becomes the majority shareholder of the project. “.<\/p>\n

After the drilling period, the Chinese company could become the operator of the joint venture, said the document.<\/p>\n

FAR Executive Director Cath Norman said that CNOOC’s entry into the first phase of exploration reflects the importance that oil companies place on explorations in Guinea Bissau (UK).<\/p>\n

For the record, Svenska Petroleum operates three offshore blocks in the UK, with reserves estimated at 954 million barrels of oil equivalent.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

China National Offshore Oil Corp. (CNOOC), has acquired 55, 55% stake in Australian group FAR Limited in the oil licenses of the two blocks (Sinapa and Esperanca), located off the Guinea Bissau coast. In a press release on Wednesday, August 7, the Australian group FAR Limited, said it approved the request to transfer the stake.<\/p>\n","protected":false},"author":536116,"featured_media":466613,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12028,11996,12030],"tags":[2120,12150],"class_list":{"0":"post-466610","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-energy","8":"category-finance-en","9":"category-private-equity-en","10":"tag-cnooc","11":"tag-guinea-bissau","12":"post_format-post-format-aside","13":"pmpro-has-access"},"yoast_head":"\nCNOOC acquires 55% of two exploration blocks in Guinea Bissau - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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