Guinea Bissau grants three more oil concessions

11 May 2007

Bissau, Guinea Bissau, 11 May – Guinea Bissau state oil prospecting and exploration company, Petroquin, said Thursday in Bissau that it had chosen companies from Angola, Qatar and the Netherlands for three more oil concessions.

Leonardo Cardoso, the director-general of Petroquin, said that the three oil blocs bid for, in the tender launched in December, were granted to Ser Petrolium, of Qatar, to Sociedade Angolana de Hidrocarbonetos and Super Nova of the Netherlands.

Petroquin will now begin negotiations with these companies, Cardoso said.

The results of the negotiations will then be “handed to the minister of natural resources and environment, Soares Sambu, that in his turn will forward the proposals to the Council of Ministers for a more exhaustive appreciation and, later, the decision will be communicated to the President of the Republic to be approved,” he added.

The government of Guinea Bissau has already granted four oil prospecting licenses to two foreign groups. (macauhub)