SuperNova to Explore African Prospect

Dutch oil company SuperNova has signed a five-year offshore oil prospecting contract with Guinea-Bissau's national oil company Petroguin, officials have announced.

The deal allows SuperNova to prospect the deep waters in the south of the West African country, writes Dow Jones.

Several offshore explorations have already revealed heavy oil reserves in Guinea-Bissau with an expected annual output of around 120,000t of crude oil.

After SuperNova, Petroguin is expected to sign other contracts with two oil companies from Angola.

By staff writer