Walcot Group, a Nigerian energy firm, entered Angola’s oil and gas sector by signing a major Production Sharing Contract with the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG).
The deal follows Walcot’s successful bid for three oil blocks in a recent international licensing round and supports its plan to expand across Africa’s major energy regions.
Walcot’s founder and president, Christopher Nwabueze Ezea II, and ANPG’s executive administrator, Alcides Andrade, signed the agreement in Luanda.
Walcot Managing Director S.B. Mohammed, Executive Director Nnabuihe Nnamani, and Nigeria’s Acting Ambassador to Angola, Rebekkah Galadima, attended the ceremony, showing growing economic ties between Nigeria and Angola.
The contract gives Walcot full operatorship and 100% interest in Block CON 3 and Block CON 7, both in the resource-rich Lower Congo Basin.
source: tribuneonlineng.com
