Norsk Hydro Inks PSA Deal for Block 4 Offshore Angola

摘要

Norsk Hydro (Oslo,Norway) has signed a production sharing agreement (PSA) with Sonangol EP for Block 4 offshore Angola.According to Norsk,Block 4 represents a continuation of the long-term cooperation between Sonangol and Hydro.The two companies have been exploring the block since early 2003,and a discovery was made in September 2004 under a prospecting license.The discovery is at about 700 meters' water depth,and is being evaluated for a stand-alone development.