Woodside Petroleum has added to its exploration acreage in Africa after gaining interests in Senegal and Guinea-Bissau.
The deal, with Impact Oil & Gas, will see the company acquire a 65% interest in a PSC (Production Sharing Contract) and associated joint operating agreement in the AGC Profond block.
The PSC covers 6,700km and its water depths range from 1,400m to 3,700m.
Impact will retain a 20% participating interest while Enterprise AGC has a participating interest in the PSC.
Woodside chief executive Peter Coleman said the PSC represented an opportunity for Woodside to secure high quality acreage in a focus area of interest.
He said: “This builds on recent acquisitions in Cameroon, Gabon and Morocco and reflects our disciplined and strategic approach to studying regional petroleum systems.”
Earlier this week, Woodside Petroleum reported a 99% decline in full-year profit, its worst result in 13 years, and cast doubt on any recovery this year from the energy price crash.