West African Operators Complete Merger
UK-based African Petroleum (APCL) has completed a merger with Norway’s PetroNor E&P – a deal first announced back in March.
The newly formed company will be known as PetroNor E&P, APCL said in a statement on August 30. It combines APCL’s exploration acreage off the coast of Senegal and Gambia with PetroNor’s interest in a producing oil project offshore Congo. PetroNor is also in talks to buy producing assets in waters off Nigeria this year.
The board of directors at the merged company will include Eyas Alhomouz as chair, Jens Pace as CEO, Stephen West as chief financial officer and Knut Sovold as chief operating officer. Other board members are Gerhard Ludvigsen, David King, Bjarne Moe and Timothy Turner.
PetroNor itself is a joint venture between Norway’s NOR Energy and Petromal, a subsidiary of the National Holding of Abu Dhabi.