Japan Oil, Gas and Metals National Corporation (JOGMEC) has been given more time to explore for hydrocarbons offshore Seychelles.
JOGMEC has signed an extension to the joint survey agreement for the evaluation of the hydrocarbon potential offshore Seychelles with the ministry responsible for hydrocarbons and national oil company, PetroSeychelles, on Monday, March 1, 2016.
The company has been conducting geological and geophysical surveys including seismic surveys with PetroSeychelles since August 30, 2013, under the exploration license granted by the Government of Seychelles.
According to JOGMEC, while the surveys ended on February 29, 2016, an additional survey was considered necessary and the Government of Seychelles, PetroSeychelles, and JOGMEC agreed to extend the current exploration license for further two years.
Based on this, JOGMEC also extended its joint survey agreement with PetroSeychelles for two more years.