Chinese buy half of Grynberg block
Issue 255
- 31 May 2013
| 1 minute read
Chinese interests have paid $16m to the new rebel government in Central African Republic for exploration rights to half of Block A, which was previously licensed to veteran Denver oilman Jack Grynberg’s RSM Production Corporation. The 54,000km2 block is in remote northern CAR but could potentially use the Chad-Cameroon pipeline for export. Other companies have pursued the licence, with less success. “We can’t compete with the Chinese,” one oil executive told African Energy.
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