Pura Vida Farms-In To Offshore Ambilobe Block


News: Australia-based Pura Vida Energy has signed a farm-in agreement with UK-based Sterling Energy. Pura Vida will acquire a 50% stake in the production sharing contract (PSC) on the Ambilobe basin offshore Madgascar, while Sterling will retain operatorship of the PSC, with the remaining 50% stake. The PSC covers approximately 17,650 sq. km of the basin, and is in phase II of its exploration period. The farm-in agreement is contingent to approval by the government of Madagascar. The deal is expected to enhance Pura Vida's portfolio of offshore exploration acreage in Africa.

This article is tagged to:
Sector: Oil & Gas
Geography: Madagascar