ADM Energy inks collaboration deals for Barracuda field
“These agreements are important steps in ensuring we are ready to deliver on our drilling plans later in the year, said chief executive Osamede Okhomina.
ADM Energy PLC (LON:ADME) has inked agreements with two service providers which are set to collaborate in the future development of the Barracuda field.
The agreements are with OES Energy Services Ltd, which is Nigeria s largest swamp rig services provider, and, contractor 4Mation Drilling Services.
ADM said the plan is to explore opportunities to develop Barracuda with OES providing swamp rigs and 4Mation providing project management services including well engineering services and technical personnel.
21 April 2021 | 10:03am
StockMarketWire.com - Natural resources investing company ADM Energy said it had entered into a non-binding collaboration agreement with OES Energy Services and 4Mation to explore opportunities to develop Barracuda field in in Nigeria.
OES Energy Services Limited, Nigeria s swamp rig services provider would provide the swamp drilling rigs required for the project, and 4Mation would provide a variety of project management services.
The collaboration agreement may be terminated by mutual consent.
At 10:03am: [LON:ADME] share price was 0p at 4.8p
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