Chinese crude oil producer CNOOC is taking over operatorship of a block located in the offshore joint development zone between Senegal and Guinea-Bissau. African-focused exploration company Impact Oil and Gas is farming out a 65% participating interest in a Production Sharing Contract (PSC) and associated joint operating agreement in the AGC Profond block to CNOOC. The agreement has been reached between Impact’s subsidiary, Impact Oil & Gas AGC Ltd, and CNOOC’s subsidiary, CNOOC UK Limited.
Source: CNOOC takes operatorship of West African block | Offshore Energy Today