Project Melanos is in the Carupano Basin, a well-known region in Grenada that is close to the long-standing oil & gas areas in Trinidad, Venezuela, and Guyana. The project holds a development licence and investor-friendly Production Sharing Agreement (PSA) covering 3,000+ square kilometres with a resources assessment of over 10TFC signed with government of Grenada for 38 years, with 100% cost recovery clause and a fixed 6% royalty, and no physical product supplies to the island.
Highlights :
- Highly experienced management team
- Condensate/light oil: over 2 billion barrels
- Support from stable government.
- Binding term sheet for gas sales
