about the activities of the Joint Development Authority (JDA).
Question: When was the JDZ Treaty Signed?
Answer: On 21st February 2001, for 45 years subject to review after 30 years
Question: When was the Joint Development Authority created?
Answer: On the 16th January 2002 to develop and manage petroleum and other natural resources in the JDZ and share the proceeds on a 60:40 per cent basis. 60% to Nigeria and 40% to Sao Tome and Principe. It has four Departments.
Question: How many Licensing Round has been conducted?
Answer: Two Licensing Rounds. First in 2003 in which Block 1 was awarded with Chevron as Operator. Second in 2004 in which five blocks (1-5) were awarded. A total of Six Blocks were awarded in the two bidding Rounds.
Question: How many Production Sharing Contracts (PSCs) have been signed?
Answer: Four PSCs have been signed for Block 1-4.
Question: How many wells have been drilled in the JDZ since inception?
Answer: One well (exploratory well) was drilled by Chevron in 2006 in which hydrocarbon was encountered.
Question: How many wells are to be drilled when a Rig is available?
Answer: Five wells (exploratory) are to be drilled; three by Addax Petroleum in Block 4, one by Anadarko in Block 3 and one by Sinopec in block 2.
Question: When will the PSCs for block 5 and 6 be signed?
Answer: When negotiations are concluded hopefully sometime in 2009.
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