A consortium that includes listed PetroEnergy Resources Corp. was allowed to extend its oil project in the west African country of Gabon for 10 more years.
In a disclosure on Wednesday, Yuchengco-led PetroEnergy said the Gabonese government and the four-member Etame Marin consortium—Addax Petroleum Etame Inc., Sasol Gabon S.A., and Vaalco Gabon S.A., are the other three—executed the amendment to its production sharing contract on Monday.
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