Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas company with its focus on Africa, is pleased to announce an update regarding planned operations on the Thali license (the PSC ) in Cameroon held by its subsidiary Tower Resources Cameroon SA ( TRCSA ), and the NJOM-3 well.
The Government of the Republic of Cameroon has notified TRCSA that the President of the Republic has approved a further extension of the First Exploration Period of the PSC, and the Company is now awaiting a formal confirmation from the Minister of Mines, Industry and Technological Development of the details of the extension. As previously announced, the Company declared Force Majeure in March 2020 in respect of the First Exploration Period of the PSC, in light of the restrictions required to combat the Covid-19 pandemic.
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OMV Petrom, the largest energy company in South-Eastern Europe, announces the signing of the Production Sharing Contract (PSC) for the offshore Block II in the exclusive economic zone of Georgian Black Sea. OMV Petrom won in June 2020 the international tender organized by the Ministry of Economy and Sustainable Development of Georgia for offshore acreage.
Christina Verchere, CEO OMV Petrom: „By signing the PSC for the offshore exploration Block II in Georgia, we take an important step in the eastern part of the Black Sea, in line with our strategy of looking for opportunities in the Black Sea region. We believe that the Black Sea has a high potential for the upstream sector and with our operating experience of over 40 years in the Romanian offshore area we have a competitive advantage in evaluating the opportunities of this basin.”