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Sirius Petroleum, an African focused oil and gas production and development company, has provided a group operational and commercial update ahead of the Company’s Annual General Meeting.
Sirius Petroleum has announced that its JV partner, COPDC, has received the requisite approvals from the Nigerian National Petroleum Corporation ( NNPC ) that enables the company to proceed with the drawdown of financing in order to commence Phase 1 of the Approved Work Programme ( AWP ) in respect of OML 65 in Nigeria.
The companies have signed a legally binding sale and purchase agreement with Angola’s state-owned oil company for a total consideration of US$335.5 million.