U.S. INDEPENDENTS TO DELINEATE FIELD OFF EQUATORIAL GUINEA
A group of U.S. independents signed a production sharing contract in Equatorial Guinea covering potential development of offshore Alba gas/condensate field and exploration of adjoining areas. Operator Walter International Inc., Houston, 25%, McMoRan International Inc., New Orleans, 50%, and Samedan Oil Corp., Ardmore, Okla., 25%, signed the contract effective Apr. 10 covering Blocks A-12, A-13, B-12, and B-13 northwest of Bioco Island.