Joint
Development Authority selects IndigoPool to host licensing round
offshore West Africa
Posted: 30 June 2003
Information on nine offshore blocks between Nigeria and São
Tomé and Príncipe available through IndigoPool.com
for international investment opportunities.
IndigoPool, a Schlumberger company, announced it has signed a contract
to provide marketing advisory services to the licensing round for
the blocks located in the Joint Development Zone (JDZ) between Nigeria
and São Tomé and Príncipe.
The JDZ covers 35,400 square km in the maritime boundaries between
both countries in the deep offshore Gulf of Guinea. The nine blocks
available for investment in this initial round are located in the
northern part of the zone, nearby existing producing Nigerian offshore
fields.
"This licensing round will be of significant interest to international
oil companies," said Rafael Branco, São Tomé
Minister of Works and Natural Resources and Environment.
"The JDZ is recognised as an important frontier region, and
its proximity to the proven and very prolific blocks offshore Nigeria
will provide successful bidders with access to a very prospective
area."
The licensing round opened April 22, 2003, and will run until October
18, 2003. It is managed by the Joint Development Authority (JDA),
which was established in 2002 following a treaty between the two
countries of Nigeria and São Tomé and Príncipe.
The JDA will visit London and Houston during June to present this
investment opportunity.
"The JDA intends to pursue strong partnerships with the industry
through a policy of consultation and interaction," said Dr.
Rilwanu Lukman, chairman, Joint Ministerial Council (Nigeria). "The
competitive terms and easy access to good quality seismic data make
the JDZ one of the best investment opportunities in the hydrocarbon
business."
More information on the JDA and the licensing round is accessible
through the IndigoPool Web site and a specific marketing channel.
IndigoPool will provide marketing services, leveraging its strong
global market network for governments.
Information on the initial JDZ licensing round developments and
seismic data sets is now available to interested parties.
"By allowing the JDA to more easily inform the global E&P
community of the latest developments on the licensing round, IndigoPool
will make our job more efficient," said Tajudeen Umar, chairman,
JDA. "Their services will enable us to better handle the general
expectations and comments of likely bidders."
"The location of JDZ provides a perfect scenario for marketing
the many benefits of the region using the Internet, as the JDZ will
potentially trigger interest around the globe," said Jeremy
Walker, president, IndigoPool.
"By hosting the data rooms for the licensing round online,
there will be opportunity for many interested parties to adequately
review the data and information available. In conjunction with the
face-to-face meetings during the road shows, this maximises the
available time for oil companies to thoroughly analyze all relevant
information before submitting an application."
About the Organisations
The Joint Development Authority manages the Nigeria - São
Tomé and Príncipe Joint Development Zone, an area
of overlapping maritime boundary claims that is jointly developed
by the two countries. A Treaty on the joint development of resources
has been signed and ratified by the two countries.
The key provisions of the JDZ treaty are: definition of the Joint
Development Zone by co-ordinates; 60 per cent of resources to Nigeria,
40 per cent to São Tomé and Príncipe; treaty
to last for 45 years with review after 30 years. No renunciation
of claims to zone by both countries. The Joint Development Authority
reports to a Joint Ministerial Council.
IndigoPool (www.IndigoPool.com),
part of the Schlumberger Information Solutions (SIS) group brings
proven acquisition and divestiture A&D services to the oil and
gas industry around the world — providing flexible advisory
services to promote accelerated deal flow, facilitate the due diligence
process and ensure the highest quality experience for both buyers
and sellers.
IndigoPool's innovative, proven solutions better manage today's
complex A&D challenges.
Schlumberger is a global oilfield and information services company
with major activity in the energy industry. In 2002, Schlumberger
revenue was $13.5 billion. For more information, visit slb.com.
Posted by Richard Price,
Editor Pipeline Magazine
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