Luba Freeport Update
October 27 2009 - 9:07AM
UK Regulatory
TIDMLONR
RNS Number : 4440B
Lonrho PLC
27 October 2009
27th October 2009
LONRHO PLC
("Lonrho" or the "Company")
Noble Energy to establish new logistics base at Lonrho's Luba Freeport
Lonrho Plc (AIM: LONR) is pleased to announce that Noble Energy EG Ltd, ("Noble
Energy"), a wholly owned subsidiary of Noble Energy, Inc., and Luba Freeport Ltd
("Luba Freeport"), a Lonrho subsidiary, have agreed to establish a logistics
facility for Noble Energy at Luba Freeport in Equatorial Guinea.
This facility will provide a new West African base for Noble Energy and
underlines both the continued growing importance of Equatorial Guinea in the oil
and gas sector in the region and Luba Freeport as the central logistics service
port for the West African oil and gas industry.
It is hoped that the new Noble Energy facility will develop to become one of
Luba's foremost clients and the initial phase of development will be 14,823m2 to
establish operations and begin work and will include warehousing and office
space as well as open storage areas and chemical bunds. Noble Energy anticipates
commencing operations by the end of 2009.
Noble Energy is one of the world's largest independent oil & gas exploration
companies and its subsidiary's new facility at Luba Freeport will support Noble
Energy's expanding operations in the Republic of Equatorial Guinea.
Luba Freeport benefits from naturally occurring deep water conditions able to
handle both oil field supply vessels and ocean-going ships. Luba has some 350
metres of usable quay and existing clients at Luba include: Amerada Hess,
ExonMobil, Baker Hughes, Marathon, LOTEG, Schlumberger, Nalco, SBM, Dickerman
and MI Swaco.
David Lenigas, Lonrho's Executive Chairman commented:
"We are pleased to have attracted Noble Energy as a further significant client
to Luba Freeport. This agreement is testament to the strategic location and
quality of operations at Luba Freeport and the importance of Equatorial Guinea.
Noble Energy's arrival continues the growth of Luba Freeport into a major
regional hub for the oil and gas industry for the Gulf of Guinea."
Enquiries
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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