Commodities
Noble Enters Offshore West Africa JV
By Houston Business Journal
Noble Energy Inc. said Wednesday that it had entered into a joint venture agreement with a Tanzanian oil company to explore an offshore block off the coast of Senegal and Guinea-Bissau in West Africa. The ACG Profond bloc, the majority stake in which is owned by Dar es Salaam-based Ophir Energy, is part of the Kora prospect that industry insiders believe could contain up to 450 million barrels of oil equivalent. Houston-based Noble (NYSE: NBL) will have a 30 percent interest in the bock, while Ophir has about 37 percent. The company news release is available here. Copyright 2011 American City Business Journals http://www.bizjournals.com/houston/news/2011/06/08/noble-enters-offshore-west-africa-jv.html?ana=thestreetTheStreet Premium Services
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