Kilimanjaro Capital wins deal for disputed offshore oil in Cabinda
Saturday, 24 November 2012 07:36
Canada-based Kilimanjaro Capital has announced that it has entered into an offshore oil assignment agreement with the Angolan exclave of Cabinda
The contract, which was signed on 17 November 2012, will ensure future rights to the Republic of Cabinda’s disputed offshore claims and will include an ultra deepwater block that has not previously been examined.
The Angola exclave's offshore blocks have produced up to 700,000 boepd which makes up most of the country's output. Angola’s licensee’s Agip, Total, and Chevron currently control the concession.
Focusing on emerging nations in Africa, Kilimanjaro Capital, recently signed a contract to acquire oil and minerals rights with the government of Southern Cameroons.
"We are delighted to be the first company to sign an agreement with the Government of Southern Cameroons,” said Zulfikar Rashid, CEO of Kilimanjaro Capital.
“Kilimanjaro Capital Ltd recognises and supports the aspirations of the Southern Cameroonian people in their quest for self determination and we look forward to constructive engagement between the relevant parties to achieve an acceptable solution under the guidance of the United Nations and African Union."