Harvest, Vitol cease talks on Gabon deal

Negotiations have ceased over the purchase by Vitol SA of Harvest Natural Resources Inc.’s 66.667% interest in the Dussafu Marine Permit production sharing contract offshore Gabon.

Negotiations have ceased over the purchase by Vitol SA of Harvest Natural Resources Inc.’s 66.667% interest in the Dussafu Marine Permit production sharing contract offshore Gabon (OGJ Online, Sept. 30, 2013).

Harvest Pres. and Chief Executive Officer James Edmiston said, “We were unable to reach an agreement on terms of a transaction with Vitol that would meet Harvest’s requirements on timing and certainty.”

Edmiston said Harvest has completed a 1,130 sq km 3D seismic survey around two presalt discoveries in the contract area, Tortue and Ruche.

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