ERHC Energy Inc (ERHE)

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**UPSTREAM** NEWS ERHC

Two JDZ contracts signed

By Upstream staff


Nigeria and Sao Tome have signed production sharing contracts with oil companies on two of the deep-water exploration blocks the two countries jointly administer in the Gulf of Guinea after months of delays.

According to Reuters, a consortium led by US independent Anadarko Petroleum will pay a signature bonus of $40 million for block 3.

Houston-based ERHC and Canada-based Addax are to head a consortium that will pay a $90 million signature bonus for block 4.


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14 March 2006 19:33 GMT | last updated: 14 March 2006 19:33 GMT