#Seychelles : Licensing plans The government is assessing licensing applications for two newly delineated offshore areas to the west of the archipelago. PetroSeychelles chief executive Eddy Belle told CWC’s East Africa Oil & Gas Summit on 11 June that the government would not reveal the identity of bidders until the proposals had been approved. “Last week, we received a proposal for areas 1 and 2, and we are doing due diligence on the companies,” Belle said. The Seychelles’ approach to licensing is a blend of competitive auctions and open-door policy. According to Belle, companies may apply for a production-sharing contract at any time, with PetroSeychelles undertaking financial and technical due diligence to assess the bidder’s ability to meet its work commitments.... Continued at ow.ly/ywxcI #Upstream #Licensing
Posted on: Wed, 02 Jul 2014 19:01:48 +0000
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