Bissau Exploration Co., a wholly owned subsidiary of Geopartners Ltd of the UK, has been established specifically to assist Petroguin, the national oil company of Guinea Bissau, in accelerating the development of its hydrocarbon resources.
The company believes that through the application of leading edge geophysical technologies with quantitative interpretation and subsurface modelling techniques, combined with a good understanding of the active petroleum systems, it can enhance business opportunities along the newly established play fairway.
The new partnership model, working alongside the National Oil Company, creates a collaborative and transparent setting for all current and future stakeholders to maximize the value created through successful exploration and the ultimate development of oil and gas in Guinea Bissau.
Bissau Exploration’s first asset is Block 4B: the company has an 80% equity stake and Petroguin have a 20% carried interest.