Canadian oil and gas explorer Eco (Atlantic) Oil & Gas (CVE:EOG) was granted an exploration licence offshore Guyana in partnership with oil major Tullow (LON:TLW) this week.
Eco entered into a petroleum agreement with the government of Guyana and Tullow Guyana BV, with Eco Atlantic holding a 40% working interest in the block and Tullow, as operator, holding the remaining 60% working interest.
Speaking to Proactive, chief executive Gil Holtzman said: “It’s a prize asset in our eyes and we are very happy and very delighted both for the partnership and for being able to deal with the Guyanese government.”
