Sterling Energy has built a portfolio of production assets in the USA and West Africa, which helps underpin through cashflow an exploration programme predominately in Africa. The exploration portfolio increased significantly in size and quality through the Fusion acquisition of 2003. This was complemented by the Mauritanian financing deal for the Chinguetti oil field in 2004 which commenced production in February 2006. This balanced portfolio is anticipated to grow through leveraging technical and commercial expertise and further investments. Sterling is looking to enhance its portfolio of assets from exploration through to production across the USA, Africa and the Middle East.
In the spotlight
Mauritania: PSC A & PSC B
Location: Nouakchott Sub-basin (Northern MSGBC Basin)
Area: 15,064 km2(PSC A - 6,969km2 / PSC B – 8,095 km2)
Sterling Equity: Royalty & Share of State Back-in on Chinguetti Field
