By OGJ editors
HOUSTON, July 14 -- Texas companies ERHC Energy Inc., Houston, and Pioneer Natural Resources Inc., Irving, said they would proceed with exploration in the Gulf of Guinea off West Africa despite the withdrawal of Devon Energy Corp. from two consortia that won bids for the properties.
The Nigeria-Sao Tome and Principe Joint Development Authority awarded the 692 sq km Block 2 in the Joint Development Zone to the three-member consortium May 31 and the 666 sq km Block 3 to a consortium of three groups, one of which was the three partners (OGJ Online, June 2, 2005.)
Devon later declined the bid awards because it would receive too low an interest share in the blocks.
"Pioneer and ERHC will now proceed to negotiate the joint operating agreements and production-sharing contracts," said ERHC Pres. and CEO Ali Memon.
Pioneer will be operator for Block 2, and Anadarko Petroleum Corp. will operate Block 3.
