Hyperdynamics gets Guinea extension. Drilling set for 2017

Hyperdynamics, an oil and gas operator focused on developing its asset offshore Guinea, has signed a one-year extension to the 2006 production sharing contract with the government of Guinea.

The extension and amendments to the original PSC have yet to be approved by the decree of the country’s president to become effective.

Subject to final approval, this means that the PSC has been extended to September 22, 2017, confirming Hyperdynamics’ subsidiary SCS as the 100% interest holder and operator of the concession.

Under the extension Hyperdynamics will retain an area equivalent to approximately 5000 square kilometers in the Guinea offshore. The company has also committed to drill one exploratory well with a projected start date in April 2017 with additional wells optional.

Ray Leonard, Hyperdynamics’ President and Chief Executive Officer said: “I am pleased with the Government of Guinea’s continued support of Hyperdynamics and look forward to the opportunity to drill the Fatala well in the near future. Our efforts now shift to taking the operational steps in preparation for the drilling and in raising the required funds and/or teaming up with a partner in order to comply with the terms of the PSC Amendment.”

 

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply