25th Apr 2016 06:52
LONDON (Alliance News) - SacOil Holdings Ltd on Monday said it decided against signing an African Renaissance Pipeline Project joint venture agreement last week.
SacOil said the agreement to develop the project was signed in Mozambique on Friday by Empresa Nacional de Hidrocarbonetos, Profin Consulting Sociedade Anonima, China Petroleum Pipeline Bureau, China Petroleum & Technology Development Corp and Progas Investment Group Ltd.
SacOil said it elected not to sign the deal at this time as it evaluates the agreement and the associated opportunities from participating in the project.
By Sam Unsted; [email protected]; @SamUAtAlliance
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