By Thompson ABISOLA
Malaysian oil and gas company, Petroliam Nasional Bhd (Petronas), said on Monday that it had acquired a 30 per cent stake in Senegal’s Rufisque Offshore Profond block.
Petronas said in a statement in Kuala Lumpur that oil major, Total, would maintain operatorship of the block with a 60 per cent ownership.
The deal is Petronas’ first project in the West African nation.According to the company, the block is located in the vicinity of significant recent oil and gas discoveries.
It said exploration activities would begin in the block in 2019. Petronas said the stake was part of an upstream strategy to grow its exploration portfolio in West Africa, where operates an ultra-deep water block in Gabon and looking to explore further in the region.
