The Nigeria-Sao Tome and Principe Joint Development Authority in Abuja approved the award of five more blocks in the Joint Development Zone in the Gulf of Guinea.
The signature bonus for the five high bids totaled $283 million for the blocks, in deep water 100 miles south of Port Harcourt, Nigeria.
A participant in each block is ERHC Energy Inc., Houston, successor to Environmental Remediation Holding Corp., which had cultivated relationships with Sao Tomean officials since 1997.
ERHC lists Emeka Offor as chairman and Ali Memon as president and chief executive officer. Memon, formerly with Marathon Oil Corp., joined ERHC in 2004.
The five blocks cover about 3,900 sq km only a few miles south of Akpo and other undeveloped giant oil and gas fields in Nigerian waters.
The JDA previously awarded Block 1 to a group led by Chevron Corp. and an ExxonMobil Corp. affiliate. Nearest to Akpo and in 5,700 ft of water 190 miles north of Sao Tome island, it went for a $123 million signature bonus.
Block awards
The bidding groups designated as awardees follows. Some awards do not list all block interest holders.
- Block 2 covering 692 sq km went for a $71 million signature bonus. Operator with 65% interest is a combine of Devon Energy Corp., Pioneer Energy Resources Co., and ERHC.
- Block 3 with 666 sq km went for a $40 million signature bonus. Operator with 51% interest is Anadarko Petroleum Corp. A combine of Devon and ERHC has 25%. A combine of DNO ASA and EER (presumably Energy Equity Resources of Norway) has 10%. A combine of Equinox Oil & Gas, Equinox & Energy Ltda., and Petro-China Co. Ltd. also has 10%. (EER was also a participant in the group awarded Block 1 earlier this year.)
- Block 4 covering 857 sq km went for a $90 million signature bonus. Operator with 60% interest is Noble Energy Inc. and ERHC.
- Block 5 with 1,091 sq km drew a $37 million signature bonus. Operator with 75% interest is identified as the ICC/OEOC consortium. ERHC holds 15%.
- Block 6 covering 588 sq km drew a $45 million signature bonus. Operatorship and 85% interest went to a combine identified as Filthim-Huzod Oil & Gas/DNO/EER/Sinopec. ERHC holds 15%.
