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AFRICAN Petroleum Corporation Ltd.

Two (2) Exploration and Production Sharing contracts have been signed between AFRICAN Petroleum Corporation Ltd, an Australian based company and the State of Senegal, on November 2011 for the following blocks: Rufisque Offshore profond and Sénégal Offshore Sud profond.


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Explanatory Memorandum

During the past decade, the international oil market was characterized by a significant reduction in exploration budgets of oil companies. This situation has reduced the competitiveness of a country like ours for oil exploration investments in favor of countries with oil potential confirmed.

To be competitive, Senegal must not only consider the evolution of global energy data, but also offer potential players in the oil industry, attractive terms and may promote the development of investment in oil exploration or production the national territory.


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