27th Jul 2016 09:07
LONDON (Alliance News) - Savannah Petroleum PLC on Wednesday said one of its subsidiaries has signed a call-off order, as part of the larger framework contract covering the acquisition of seismic data Savannah Petroleum that agreed in February.
In February, Savannah Petroleum signed a deal with BGP Niger Sarl for the 2D and 3D seismic data acquisition survey for the R1/R2 and R3/R4 licence areas in south east Niger.
On Wednesday, Savannah Petroleum said one of its subsidiaries has now signed a call-off order, which is largely similar to an invitation-to-tender. The call-off order will allow for the acquisition of around 800 square kilometeres of 3D seismic data over part of Savannah Petroleum's R3 licence area in south east Niger.
Savannah Petroleum said the data acquired will provide "enhanced definition" over 12 existing mapped exploration targets, which had been identified on Savannah Petroleum's existing 2D seismic dataset.
Mobilisation of crew and equipment is expected to commence shortly, Savannah Petroleum said.
Shares in Savannah Petroleum were untraded on Wednesday, having last traded at 30.00 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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