ADM Energy, Eunisell collaborate for development of Barracuda Field

NIGERIA – ADM Energy, a natural resource investing company, has announced that it has entered into a non-binding collaboration agreement (CA) with Eunisell, a Nigerian owned oil and gas production solutions company, for the development of Barracuda Field in OML 141. Under the terms of the CA, subject to the completion of certain due diligence, ADM and Eunisell will explore collaboration opportunities to carry out development of Barracuda Field in OML 141 and associated work-related activity in Nigeria. It is the intention of both parties, together with the risk sharing…

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Investing company ADM Energy invests in Nigeria’s Barracuda oil field in OML 141

NIGERIA – ADM Energy PLC, a natural resource investing company, has agreed to invest in the development of the Barracuda oil field in OML 141, an existing discovery and near-term production asset in swamp/shallow waters offshore Nigeria. The investment will be made by way of an acquisition of a 51% interest in K.O.N.H. UK Limited, which holds an indirect interest in a Risk Sharing Agreement for the Field. “This is a compelling investment opportunity that provides ADM with the potential to access near-term production upside at minimal risk,” Osamede Okhomina,…

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ADM Energy extends its MoU with Trafigura of financing energy projects for a further 12 months

NIGERIA – ADM Energy PLC, a natural resource investing company, has announced that is has extended for a further 12 months its indicative Memorandum of Agreement (MoU) to enter into a strategic alliance with Trafigura Pte Ltd, a market player in the global commodities industry. It is also to be noted that there are no other changes to the original MoU. ADM and Trafigura intend to create a strategic alliance that enables the development and financing of energy projects in Africa. Under the terms of the MoU, ADM will act…

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