On
Due to further disruption caused by the impact of the COVID-19 pandemic, during which the Company has been in regular dialogue with the regulatory authorities, ONHYM has approved a 24 month extension to the initial period of the Petroleum Agreement in order for the Company to complete the committed work programme. Subject to the issuance of the Joint Arrete signed by the Minister in charge of Energy and Minister in charge of Finance, the length of the initial period will now be 4 years and 6 months, commencing
Mohammed Seghiri,
'We are not alone in dealing with the disruptions brought about by the COVID-19 pandemic and we are pleased that ONHYM have signed an amendment to extend the initial period extension by 2 years in order to complete our exploration operations. We continue to look forward to unlocking the prize of the pre-salt potential that we believe exists in this area.'
Contact:
Tel: 44 (0)20 7390 0230
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