Lobbying Is Vigorous For Sinopec, Mutwadasi Says

In a note this morning, our trusted source Mutwadadi lends some on-site insight to the negotiations that have just concluded in Abuja at the meeting of the Nigeria-Sao Tome and Principe Joint Ministerial Council.

The trusted source indicates that there is still somee horsetrading yet to accomplish in Blocks 2, 3 and 4:

joe

it was a busy few days in abuja.

the key points from the JMC meeting were: confirmation of Addax/ERHC as operator in block 4; settling the JDA budget; introduction of Sinopec as consortium partner and operator in Block 2 as replacement for Pioneer; introduction of Addax as minority consortium partner with Sinopec and ERHC in Block 2 and partner with ERHC in Block 3.

sao tome is not set up for instant decision-making. but sinopec/addax proposals for block 2 and 3 are the only ones under consideration and lobbying for an early decision is already vigorous.

mutwa