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NBL Noble Inv

256.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Noble Inv LSE:NBL London Ordinary Share GB0033634543 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 256.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Noble Energy, Petronas Win Cameroon Oil Drilling Permit

11/07/2009 2:06pm

Dow Jones News


Noble Investments (LSE:NBL)
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Noble Energy Inc. and Petronas Carigali Gas Ltd. jointly won a $119 million contract this week to explore and drill oil in Cameroon's southwestern locality of the Douala/Kribi-Campo basin, state-run Cameroon Radio Television (CRTV) reported Saturday.

"Under the contract, the consortium of Noble Energy and Petronas commits to undertake in this zone, during an initial period of three years, a program of exploration activities, which comprises the acquisition, processing and interpretation of at least 600 kilometers of 2D seismic data and the drilling of two exploration wells," said a statement read Saturday on CRTV issued by Cameroon government-owned National Hydrocarbons Corporation (SNH).

The communique said the "minimum investment committed for the three periods amounts to USD119 million" for the five-year contract.

Petronas (6033.KU) and Noble Energy (NBL) are partners in Cameroon oil investment, and the Malaysian firm is a shareholder of the 1,080-kilometer Chad-Cameroon Pipeline. The pipeline snakes from southern Chadian oil fields of Doba into Cameroon's Atlantic coastal town of Kribi.

-By Emmanuel Tumanjong, contributing to Dow Jones Newswires; 237-9655-6261; tnuel@yahoo.com

 
 

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