Woodside Petroleum Limited (ASX:WPL) has acquired acreage off the coast of Gabon, a Central African country located on the west coast of the continent.
The oil and gas producer has bought a 40 per cent interest in an exploration, exploitation and production sharing contract for Block F15.
The contract has a seismic commitment and options for future drilling and the remaining 60 per cent of the contract is held by Noble Energy who is the operator.
Woodside Petroleum has not revealed how much it paid for what it calls significant acreage in a high-graded emerging oil-prone province.
CEO Peter Coleman says the purchase is a good fit for Woodside’s core capabilities in deepwater exploration and builds on recent acquisitions in Tanzania and Morocco.
Woodside Petroleum reported a net profit of more than $2 billion in the full 2013 calendar year.
