Tullow Oil is a multinational oil and gas exploration company, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 250 Index. Tullow Oil is focused on finding and monetising oil assets in Africa and the Atlantic Margins and has a portfolio of over 120 licenses for exploration and production assets in Africa, Latin America, the Caribbean and Europe.
- Operator and holds 60% working interest in the Orinduik Block, offshore Guyana
- Tullow carries Eco Atlantic for US$1.25m of the 3D survey required in the initial four years of the exploration programme work commitment
NAMCOR is an integrated oil and gas company, wholly owned by the Government of Namibia. The Company is a legally enacted entity under the Namibian Companies Act of 1973. Under the Petroleum Act, NAMCOR engages in reconnaissance, exploration and production operations either on its own or in partnership with other organisations in the oil and gas industry.
- 10% carried interest up to production in all four licences
AziNam is a well-funded, fast growing private oil and gas exploration and production company focused on opportunities in Namibia. AziNam is wholly owned by Seacrest, a Bermuda based private equity company that invests solely in the global offshore oil & gas industry. Seacrest has invested in a number of portfolio companies dedicated to exploring offshore opportunities globally.
- 32.5% working interest
- 40% carrying of 3D seismic
- 20% working interest
- 40% carrying of 3D seismic
- 30% working interest
- 51% carry of seismic
Africa Oil Corp.
Africa Oil Corp. invested CAD $14m in Eco Atlantic in November 2017, making it a ~19% shareholder of the Company. With over $400m cash in hand at the time, it formed a Strategic Alliance with Eco Atlantic to seek new mutual exploration opportunities. It invested a further $5 million in April 2019.
- Africa Oil Corp. subscribed for 19.77% of the Company and invested CAD $14 million (£8.46 million) at a 28% premium to the then market price, as of 10th November 2017
- Funds will be used to actively identify, negotiate and contract new oil and gas exploration assets and conduct the initial work programmes
- Keith Hill, President and CEO of AOC, was appointed to the Board of Eco
- Strategic Alliance Agreement with AOC to bid jointly on any new assets or ventures proposed to be acquired by Eco
Eco has a partnership with Total EP Guyana BV, a wholly owned subsidiary of Total S.A., a French multinational oil and gas company. The oil major Total produces almost 2.7m boe/d of hydrocarbons per year, making it one of the largest international oil and gas companies in the world.
It boasts operations in 130 countries across all five continents, with over 98,000 employees worldwide.
- 25% Working Interest in the Orinduik Block, Offshore Guyana