Company from Nigeria is oil prospecting in Guinea-Bissau

25 November 2015

Nigerian company Portplus has signed two contracts with the Guinea-Bissau oil company Petroguin for oil prospecting in the country’s seas, the state company said in a statement in Bissau.

“Petroguin and Portplus entered into two contracts of association for prospecting of hydrocarbons in order to search for and potentially develop and explore the natural oil resources in blocks 5C and 6C,” the statement said.

The process began in September 2014 with the expression of interest by the Nigerian company and should now be taken to the Council of Ministers for a permit to be granted. (macauhub/GW)