About Mauritania sungara energies
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4 FAQs about [Mauritania sungara energies]
What is sungara energy?
Sungara Energies is a joint venture between NAMCOR, Britain’s Sequa Petroleum and (the Nigerian) consulting company Petrolog. The payment in question allowed the JV to ensure that its planned acquisition of a 10% stake in producing Angolan oil Block 15/06 did not fall through.
Who owns sungara energy?
Sungara Energies, which is owned by state-owned Namibian company Namcor, Britain's Sequa Petroleum and consulting company Petrolog, is impatient to complete its acquisition of a 10% stake held by state-owned Sonangol P&P in block 15/06 in Angola, where ENI is operator with 36.84% interest.
When will sungara complete a Namcor investment?
Sungara expects to complete the transaction, which represents Namcor's first investment in a block outside Namibia (AI, 20/04/22), before the end of the third quarter. Several administrative procedures need to be completed before then. ENI has until 9 June to exercise its pre-emption rights.
How many barrels will sungara produce a day?
Through the deal, Sungara will produce an estimated 10,000 barrels per day (bpd), with opportunities to increase this figure to 15 000 bpd. Reserves for the 10% stake are estimated at 75 million barrels and the finalization of the agreement is expected in late 2022.