RE: It's usually27 Jul 2018 14:11
Yes I read that too thanks fredr. Took it from that they haven't paid anything yet though.
Should note (since aaog haven't ) that AOGC took a large chunk of both Total and Eni's licences and no ones sure if they paid anything thats one of the reasons i wanted to see the production sharing agreement from AAOG signed off before spud.
Wouldn't want to be still trying to negotiate terms with these people after a decent discovery that appears to have been Soco's downfall.
re Eni- AOGC
Since 2014, AOGC partnered with ENI and TOTAL with no intermediaries in deals managed by the Congolese government. The two multinational companies had had for years licenses to exploit several very rich fields. In 2014, the permits were renewed but not fully. ENI and TOTAL lost significant shares that the government transferred to AOGC. The Italian company controls four extraction sites (Foukanda, Mwafi, Kitina and Djambala), where AOGC obtained shares ranging from 8 to 15%. TOTAL manages three other fields, of which ENI is only a shareholder. In these, the French oil giant relinquished to 26%, whereas the Italian group gave up 14%: these shares too went to AOGC and two other secretive societies. The amounts paid by AOGC to enter these fields businesses never became public.
Finding out that the Italian group had become partner of the "company of the regime" brought about in 2015 a strong clash at the top floor of ENI between economist Luigi Zingales and ENI’s top official Claudio Descalzi in person. At the shareholders' meeting, when asked whether AOGC had been ENI‘s choice or rather imposed by the Congolese government, Mr. Descalzi replied: "We did not choose it.” The Italian group, therefore, seems to have undergone an imposition by the Congolese government.
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