Stockholm, 30 November 2017

License extension Guinea-Bissau

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 license extension came with a larger equity for Svenska and with improved license terms reflecting the deep-water nature of the current exploration focus.

Svenska now holds a 70,71% working interest in the field and a 78% paying interest.