Space Industry and Business News  
OIL AND GAS
SOCO gives up oil license in proteced DRC park
by Daniel J. Graeber
London (UPI) Nov 4, 2015


disclaimer: image is for illustration purposes only

British oil company SOCO International said it no longer held a stake in an exploration license located in a DRC national park, home to mountain gorillas.

SOCO said it was writing off the costs associated with operations in the so-called Block V inside the Virunga National Park in the Democratic Republic of Congo.

"SOCO no longer holds the Block V license," the company said in a statement.

SOCO signed a production sharing agreement with the DRC government in 2006. It said earlier that it reached an agreement with conservation group World Wide Fund for Nature, which operates as the World Wildlife Fund in the United States, to halt work in the DRC's Virunga National Park, a protected area and home to mountain gorillas, a critically endangered species.

In October, the WWF said the number of mountain gorillas in the Virunga park has increased over the last few decades following the work of regional conservationists. The organization said the threat continues, however, to the species' habitat. A census is underway.

The company in its latest update said no drilling ever took place inside Block V and no oil extraction plan was in place in the controversial basin.

"Block V is not located within the mountainous Mikeno sector [of the park], home to the famous mountain gorillas," it stressed.

Virunga, an award-winning documentary, showcases how the work of poachers, along with oil interests and conflict, has threatened the habitat and the survival of the mountain gorillas. The film raises questions about SOCO's transparency in the region, questions the company has criticized.

SOCO in 2012 was forced to relocate some its staff from the DRC to neighboring Uganda to flee a rebellion launched by the March 23 Movement. It defended its operations in the DRC, saying much of its preliminary work was carried out using aerial surveillance.

The company's work in the DRC had involved seismic surveys of the oil-rich Lake Edward region to get a better understanding of the reserve potential.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Saudi says fossil fuels still needed despite global warming fears
Riyadh (AFP) Nov 4, 2015
Leading crude exporter Saudi Arabia supports efforts to limit global warming but believes fossil fuels should remain part of the world energy mix, Oil Minister Ali al-Naimi said on Wednesday. Naimi was speaking at a meeting of major fossil fuel producer and consumer nations in Riyadh ahead of a UN conference on climate change in Paris later this month. Saudi Arabia is seen as an opponent ... read more


OIL AND GAS
NUS scientists developed super sensitive magnetic sensor

Chipping away at the secrets of ice formation

Robotic Eyes to Assist Satellite Repairs in Orbit

Space Junk

OIL AND GAS
Airbus intros military satellite communications service

Airbus Defence and Space launches XEBRA

Milestone C approval given for communications system

Southeast Asian nation awards Harris $10 million contract for radios

OIL AND GAS
Russian Space Agency signs contracts for 31 commercial launches in 2015

Russia to refurbish satan missiles as cheaper launchers

Full-Scale Drills at Russia's Vostochny Cosmodrome to Start in Two Weeks

Developing Commercial Spaceports in the USA

OIL AND GAS
Galileo pair preparing for December launch

GPS IIF satellite successfully launched from Cape Canaveral

U.S. Air Force prepares to launch next GPS IIF satellite

Russia to Open Four New Glonass Stations Abroad

OIL AND GAS
Australia receives eighth Boeing C-17A

B-29 Doc flight test Kickstarter exceeds funding goal

Lockheed Martin tests F-16 durability

Airbus Helicopters signs 750-mn euro deal with China

OIL AND GAS
Silicon Valley granddaddy HP readies breakup

Techniques to cool 3D integrated circuits stacked like a skyscraper

Manipulating wrinkles could lead to graphene semiconductors

Photons open the gateway for quantum networks

OIL AND GAS
Curtiss-Wright and Harris bring digital map solutions to rugged systems

OGC and ASPRS to collaborate on geospatial standards

Study predicts bedrock weathering based on topography

How TIMED Flies: Unexpected Trends in Carbon Data

OIL AND GAS
India's choked capital fails to collect new 'pollution toll'

India's choked capital starts 'pollution toll' for trucks

Gear, not geoducks, impacts ecosystem if farming increases

Plastic litter taints the sea surface, even in the Arctic









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.