According to a report by the Guinea-Bissau News Agency on November 25, the state-owned Bissau oil company (PetroGuin) announced in Bissau that PetroGuin has signed two agreements with the Nigerian company Portplus for oil exploration in Guinea-Bissau's territorial waters.

The announcement stated that under the agreements, PetroGuin and Portplus will collaborate on oil exploration in blocks 5c and 6c, with the ultimate goal of oil extraction.

The agreements have currently been submitted to the Council of Ministers of Guinea-Bissau for review.

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