Harvest Natural Resources to Buy Interest in Gabon Exploration Block

Harvest Natural Resources has executed a sale and purchase agreement to acquire a 50% operated interest in the Dussafu Marin exploration and production sharing contract located offshore Gabon from Sasol Petroleum West Africa Limited.

The acquisition is subject to the approval of the government of the Republic of Gabon and the co-venturers in the exploration production sharing contract (PSC). The PSC contains 680,000 acres located at water depths ranging from zero to 1,000 feet.

James Edmiston, president and CEO of Harvest, said: “The Dussafu PSC lies within an active proven hydrocarbon basin containing significant production and infrastructure in contiguous blocks and provides Harvest with exposure to multiple medium- to low-risk exploration plays and a pre-existing small oil discovery.

“Entry into Gabon with an operated position in the Dussafu PSC is consistent with our plans to organically grow a more diverse asset portfolio while maintaining focus on highly-proven hydrocarbon provinces.”