JOGMEC Extends Seychelles Joint Survey Agreement

Japan Oil, Gas and Metals National Corporation (JOGMEC) has signed an extension to the joint survey agreement for the evaluation of the hydrocarbon potential in offshore Seychelles among Ministry Responsible for Hydrocarbons and PetroSeychelles Ltd on March 1, 2016.

JOGMEC has been conducting geological and geophysical surveys including seismic surveys with PetroSeychelles since August 30, 2013 under the exploration license granted by the Government of Seychelles.

While the surveys ended on February 29, 2016, an additional survey was considered necessary and the Government of Seychelles, PetroSeychelles, and JOGMEC agreed to extend the current exploration license for further 2 years.

Based on this, JOGMEC also extended its joint survey agreement with PetroSeychelles for 2 more years.