OilVoice - Niko Resourses Signs First Block Agreement in Trinidad With Centrica

Niko Resourses Signs First Block Agreement in Trinidad With Centrica

Friday, July 10, 2009

Niko Resources Ltd. announces that they have signed an agreement with Centrica plc whereby Niko will acquire a 26.0 percent interest and operate the recently awarded shallow water block 2AB offshore Trinidad. Both the assignment of the interest and the operatorship are subject to approval from the government of Trinidad and Tobago.

The final equities in Block 2AB will be Niko Resources 26 percent, Centrica plc 29.25 percent, Voyager Energy 9.25 percent and Petroleum Company of Trinidad and Tobago Limited (Petrotrin) 35 percent.

Block 2AB is 1605 square kilometers and is nearby the Angostura producing oil and gas field which has reserves in excess of 100 million barrels of oil and 1 TCF of gas.