Svenska Petroleum Exploration AB has, through its owner Petroswede AB, reached an agreement to sell the company to Vaalco Inc. This transaction is subject to government approvals.

Svenska Petroleum Exploration has been made aware that bankruptcy proceedings have been initiated against Petroswede Europe AB. Petroswede Europe is a holding company two levels above Svenska Petroleum Exploration AB (“SPE”).

“The operational and financial performance of Svenska Petroleum Exploration is very strong, and the filing does not negatively impact SPE’s current strategy as directed by its Board of Directors, or the ongoing process to sell the business.”, says Fredrik Ohrn, SPE’s CEO.   “We are in the final stage of discussions regarding a sale of the company and we have been informed that we have Petroswede Europe’s lender’s full support in this process.”, Mr. Ohrn added.

SPE Guinea Bissau AB (“Svenska GB”), a wholly owned subsidiary of Svenska Petroleum Exploration AB, Sweden, is the Operator of Block 2, the Sinapa Licence, and Blocks 4A & 5A, the Esperança Licence, offshore Guinea Bissau. The other co-venturers in these licences are FAR Limited (“FAR”) and Empresa Nacional de Pesquisa e Exploração Petrolíferas, E.P. (“Petroguin”, the state owned oil company).  

We are happy to announce the publishing of our new svenska.com website.
This is very much in line with Svenska's current focus on reviving and strengthening our brand.

Svenska Petroleum Exploration turned 50 on the 3rd of June 2019. The company was founded as Oljeprospektering Aktiebolag (OPAB) in 1969 by the Swedish government and a consortium of Swedish industrial enterprises. The company was bought by Sheikh Mohammed H. Al-Amoudi in 1994.

As part of the phase 4 infill drilling campaign the Baobab partnership has drilled an appraisal well on the Kossipo satellite discovery in the CI-40 license.

Svenska, as operator for Block 2 and Blocks 4A & 5A in Guinea Bissau has signed a Drilling Management Contract with Exceed Ltd. The contract is to manage the drilling of a deep water well in Block 2. The Atum and Anchova prospects in the western part of the licensed area are currently the main drilling targets.

Svenska is happy to announce that a new financing agreement was signed on 29 June 2018.

Production from Baobab passed 100 million barrels of oil on 5 November 2018.

The partnership for the Svenska, as operator for Block 2 and Blocks 4A & 5A in Guinea-Bissau has successfully negotiated a three-year extension for the licenses for the two licenses.

The Baobab license group have negotiated a new operating agreement for the leased Baobab FPSO with Modec International Inc. 

The Phase 3 drilling campaign in the Baobab field in the Ivory Coast has been successfully completed in the first quarter of 2016 with an additional six production wells completed.