Perenco strikes Etinde deal with New Age
Perenco strikes Etinde deal with New Age
Perenco has signed a deal to buy the Etinde stake held by New Age (African Global Energy) for an undisclosed amount, junior partner in the project Bowleven has said.
Secretive Perenco made no immediate comment on the deal. It has not disclosed the purchase price. A Perenco representative said only that the company was in “exclusive talks”.
New Age is the operator of the Etinde project with a 37.5% stake. Russia’s Lukoil also has a 37.5% stake, while London-listed Bowleven has 25%. Lukoil and Bowleven both have pre-emption rights that they must trigger within the next 30 days.
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