By OGJ editors
HOUSTON, May 17 -- Cove Energy PLC has taken equity interests in two blocks off Kenya operated by BG Group PLC.
Cove signed production sharing contracts and will hold a 25% interest in Block L10A and a 15% interest in Block L10B.
The blocks cover a combined area of more than 10,400 sq km in the southern Lamu basin in 200-1,900 m of water. They are adjacent to and inboard of deepwater blocks L11A and L12, part of a package of five contiguous deepwater blocks in which Cove has a 15% interest.
Interests in the blocks are BG Group 40% in L10A and 45% in L10B, Premier Oil Investments Ltd. 20% in L10A and 25% in L10B, and Pancontinental Oil & Gas NL has 15% interest in both blocks.
The partnership will shoot seismic in coming months. Cove said it sees potential hydrocarbon fairways in continuity with its adjacent deepwater blocks L11A and L12.
Rendering from Cedar LNG.
US Government Accountability Office.
