Scandoil  

Sherritt International signs two new production-sharing contracts


Published Dec 22, 2014
Sherritt International Corporation

Sherritt International Corporation has signed two new Production Sharing Contracts (PSCs) with the Government of Cuba.

The new blocks, 8A and 10, are located in Central and Northern Cuba and encompass areas of 967 square kilometres and 261 square kilometres respectively. The PSCs have a 25-year-term and include commitments which primarily include reprocessing existing seismic data and acquiring new seismic data within a two-year period. After the completion and evaluation of the seismic work, Sherritt has the option to continue its exploration work or relinquish the PSCs.

"We are very pleased with the addition of these two Production Sharing Contracts as they are a significant part of our strategy to extend the production life of our energy business in Cuba," said David Pathe, President and CEO of Sherritt. "We are also awaiting final approval on two additional PSCs on the west side of the City of Havana."

Tags: Sherritt International Corporation




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml