Business
Appointment of Iran-focused Oil & Gas Consultancy
Appointment of Iran-focused Oil & Gas Consultancy.
About this update from Wildcat Gold Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3120C\n Wildcat Petroleum PLC\n 21 February 2022\n \n \n \n 21 February 2022\n Wildcat Petroleum Plc\n (\"Wildcat\" or the \"Company\")\n Appointment of Iran-focused Upstream Oil & Gas Consultancy\n Wildcat Petroleum Plc (LSE: WCAT), a company targeting investment opportunities in business and assets within the upstream sector of the petroleum industry, is pleased to announce the appointment of TBP-GEO as petroleum consultants. Their role is to assist WCAT secure oil production contracts in Iran if sanctions against Iran are eased by the United States of America, the United Kingdom and others. WCAT will not engage in any business activity with the Islamic Republic of Iran as long as sanctions imposed by the United States, United Kingdom and European Union prevent it from doing so.\n TBP-GEO are highly experienced petroleum consultants who are familiar with the Iranian oil industry after spending nearly 20 years working with the National Oil Company of Iran (\"NIOC\"). Between 1999 -2002 one of the principals at TBP-GEO was involved through Global Geo Services ASA (\"GGS\"), the geology and seismic exploration consultancy, in the planning and execution of a 2D seismic survey of 106,000 km (PC-2000) in Iranian territorial waters (Persian Gulf & Oman Sea). Since then, GGS has worked on the marketing and sale of this data-set in agreement with NIOC, only when international sanctions allowed them to do so. The principals at TBP-GEO continue to be involved in the day to day running of GGS.\n \n Wildcat director, Glyn Roberts, was also involved with the Iranian multi-client seismic survey - including sales and marketing of the results - this during the period 2000 to 2005. He is currently business partner at Spec Partners Ltd with one of the principals of TBP-GEO. Due to his long-term business and personal relationship with both principals of TBP-GEO he has recused himself from discussions concerning the appointment of TBP-GEO.\n \n The agreement between the Company and TBP-GEO will remain dormant until the United States, United Kingdom and European Union ease sanctions, such that WCAT can legally conduct petroleum business in the country. Until such point, neither Wildcat, nor TBP-GEO on behalf of Wildcat, will conduct any business with the Iranian regime. Only when the Unite...