Congo (Brazzaville): License terms sweetened

Congo (Brazzaville) formally approved new fiscal terms for the production sharing contract on the Mer Profonde Sud license and Azurite field.

By OGJ editors
HOUSTON, Mar. 9
– Congo (Brazzaville) formally approved new fiscal terms for the production sharing contract on the Mer Profonde Sud license and Azurite field.

The amendment gives the contractor group a larger net entitlement share of Azurite field revenues retroactively to Oct. 1, 2010, said PA Resources AB, Stockholm. The amendment received parliament’s approval and was sanctioned by a presidential decree.

Murphy West Africa Ltd. is operator with 50% interest, PA Resources has 35%, and Soc. Nat. Petroles du Congo has 15%.

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