The seismic data brokerage agreement between Nigeria and Sao Tome and Principe for the Joint Development Zone (JDZ) has been signed. The agreement, signed at the Joint Development Authority (JDA) headquaters in Abuja, was aimed at licensing the existing 3D seismic data for the JDZ.
The news of the agreement is contained in a statement made avaiable to newsmen on Monday in Abuja and signed by Mr S. Dimka, Chairman of the Board.
According to the statement, the agreement will lead to the establishment of a work station for in-house training of staff for data processing It will also provide opportunities for staff to undergo attachment in Petroleum Geo Services (PGS) in order to generate revenue, among other opportunities.
Mr Collins Kalabare, acting chairman of the Joint Development Authority and the Executive Director, Monitoring and Inspections, said the signing of the agreement was a landmark.
He said the signing of the agreement would yield some revenue to the JDA and by extension, the two countries. “We are kicking off a process that will yield some significant revenue to the JDA.
It is a win-win situation for all parties concerned,” he said. Miss Candida Pinta, a Lawyer, who signed on behalf of the Petroleum Geo Services (PGS), said it was a welcome development and looked forward to the fulfillment of the obligations under the contract.