ERHC Energy, a US based oil and gas firm, said that the Joint Development Authority (JDA) has approved a six-month extension of Exploration Phase I in Joint Development Zone (JDZ) Block 2.
The extension will enable the operator of the block, Sinopec, to complete all studies needed for further exploration.
Last month, ERHC supported Sinopec, ERHC’s technical partner, in applying to enter into Exploration Phase II pending the completion of the studies.
Instead, agreement was reached with the JDA to further extend Exploration Phase I to enable completion of the studies before commencement of Phase II.
A similar decision to extend Exploration Phase I in JDZ Blocks 3 and 4 was reported in September.
ERHC has 22% interest of JDZ Block 2, 10% interest of JDZ Block 3 and 19.5% interest of JDZ Block 4.