PAPIS Energy Solution: Exploration and Production arm
Pan African Petroleum Industrial Services Limited launch Exploration and Production arm, PAPIS Energy Solution.
PES together with its financial partners (www.amcapitalpartners.co.ao) are focused on acquiring equity rights in oil and gas appraisal and development fields across the continent but more specifically in West Africa.
The company will focus on developing deepwater fields and restarting stalled marginal oil fields, improving recovery and ensuring an economic return from assets which would otherwise be prematurely abandoned.
PAPIS Energy Solution signs a memorandum of understanding with FALCON Oil Holding Angola SA which holds participating interest in Block 15/06, 17/06 and 18/06 offshore Angola.
The agreement will foster a relationship of mutual technical support and collaborations.