EXHIBIT  10.7




                              DATED 30th June 1998



                      (1) ABACAN TECHNICAL SERVICES LIMITED

                     (2) LIBERTY TECHNICAL SERVICES LIMITED

                        (3) AMNI INTERNATIONAL PETROLEUM
                           DEVELOPMENT COMPANY LIMITED

                       (4) SEDCO FOREX INTERNATIONAL, INC.

                         (5) SCHLUMBERGER OVERSEAS S.A.



                                    AGREEMENT
               FOR THE ACQUISITION OF CERTAIN INTERESTS IN PROCESS
           AND OTHER EQUIPMENT, FIXTURES AND FITTINGS ATTACHED TO, OR
        CONNECTED WITH, A MOBILE OFFSHORE PRODUCTION UNIT ("THE LANGLEY")






                                    Gouldens
                                 22 Tudor Street
                                 London EC4Y OJJ

                               Tel: 0171 583 7777
                            Facsimile: 0171 583 3051


<PAGE>
                      CONTENTS


CLAUSES  Page No.

     1.  Interpretation:                          -1-

     2.  Transfer:                                -2-

     3.  Debts:                                   -2-

     4.  Completion:                              -3-

     5.  Warranties:                              -4-

     6.  Taxation etc:                            -5-

     7.  General:                                 -5-

     8.  Waiver of Claims                         -6-

     9.  Jurisdiction:                            -6-

         SCHEDULE 1EQUIPMENT                      -7-

         SCHEDULE 2BILL OF SALE                   -8-

         SCHEDULE 3PERMITTED SECURITY INTERESTS   -9-

         SCHEDULE 4NOTICE                        -10-


<PAGE>
WBS(8)  738914

THIS  AGREEMENT  is  made  this  30th  day  of  June  1998

BETWEEN:

(1)  ABACAN TECHNICAL SERVICES LIMITED, a company incorporated under the laws of
     the Bahamas ("Abacan");

(2)  LIBERTY TECHNICAL SERVICES LIMITED,  a company  incorporated under the laws
     of the Bahamas ("Liberty");

(3)  AMNI  INTERNATIONAL   PETROLEUM  DEVELOPMENT  COMPANY  LIMITED,  a  company
     incorporated under the laws of Nigeria ("Amni");

(4)  SEDCO FOREX  INTERNATIONAL,  INC., a company incorporated under the laws of
     Panama ("Sedco"); and

(5)  SCHLUMBERGER OVERSEAS S.A., a company incorporated under the laws of Panama
     ("Schlumberger").

WHEREAS:

1.   Pursuant to an Integrated Services Contract dated 20 October 1995 Sedco and
     Schlumberger have provided to Liberty and Amni the use of a Mobile Offshore
     Production  Unit ("the Langley") and of certain process and other equipment
     attached or fixed  thereto,  and  provide  certain  continuing  services in
     connection therewith.

2.   The  parties  have  agreed  that any  interests  of Liberty and Amni in the
     foregoing  equipment  shall be transferred to Sedco on the following  terms
     and conditions.

NOW  IT  IS  HEREBY  AGREED  as  follows:

1.   Interpretation:

     In this Agreement,  unless the context  otherwise  requires,  the following
     expressions have the following meanings:

     "Completion"   has the meaning given by Clause 4;

                                      -1-
<PAGE>
"Equipment"    means all process equipment and any other equipment, fixtures and
               fittings  attached to, or  connected  with,  the MOPU,  including
               (without  limitation)  the  power  plant  (comprising  three  gas
               turbines) and that equipment specified in Schedule 1 hereto;

"ISA"          means the  Integrated  Services  Contract  dated 20 October  1995
               between  Liberty,  Amni,  Sedco and Schlumberger (as amended by a
               Deed of Amendment of even date herewith);

"MOPU"         means the Mobile Offshore Production Unit (the ALangley");

"Schlumberger
 Group"        means  Schlumberger  and any holding company of Schlumberger  and
               any  subsidiary of  Schlumberger  or of any such holding  company
               (and in this Agreement  "subsidiary" and "holding  company" shall
               have the meanings given them by the Companies Act 1985);

"US$"

              means  the  currency  of  the  United  States  of  America.

2.     Transfer:

2.1     Liberty  and  Amni  hereby  confirm  that  Amni  has waived in favour of
Liberty  all right, title and interest that it may have in the Equipment as part
of a settlement between the parties, which settlement is evidenced in a separate
agreement  of  even  date  herewith.

2.2     Liberty  agrees  to  transfer to Sedco, and Abacan agrees to procure the
transfer to Sedco of, any right, title and interest that Liberty may have in the
Equipment  free from all liens, charges and encumbrances at and with effect from
(other  than  the  Permitted  Lien  as  hereinafter  defined).

2.3     For  the  avoidance of doubt, it is hereby confirmed and acknowledged by
Liberty  that full payment for the process equipment referred to in Clause 7.2.1
of the ISA has not been received by Sedco and Schlumberger; and that accordingly
the  Bill  of  Sale referred to in such Clause has not been delivered to Liberty
and  that,  notwithstanding  any  payments  that may have been made to Sedco and
Schlumberger,  title and ownership of such equipment has not been transferred to
it.

2.4     The  parties  agree  that  the  right,  title  and  interest transferred
pursuant  to  this  Clause  2  shall  be  valued  at US$ [                    ].

3.     Debts:

3.1     In  consideration  for  the  transfer referred to in Clause 2, Sedco and
Schlumberger  agree  that  the  debts  comprising:

                                      -2-
<PAGE>
     (a)  the sum of  US$[                  ]  owed to them by  Abacan  as at 18
          June 1998 in  respect  of the  Trident  8  Drilling  Contract  dated 1
          November 1996 between Sedco and Abacan (as amended);

     (b)  the sum of  US$[                ]  owed to them by Liberty and Amni as
          at 18 June 1998 under the ISA;

     (c)  the sum of US$ [               ] owed to them under Clause 14.1.3.2(d)
          of the ISA in respect of the termination of the ISA;

     (d)  subject  to  and  without   prejudice   to  Clause  3.2,  the  sum  of
          approximately   US$[                 ]   owed  to  them  under  Clause
          14.1.3.2 (b) of the ISA in respect of the demobilisation expenses; and

     (e)  any other amounts owed to members of the  Schlumberger  Group as at 26
          June 1998 by Abacan,  Liberty and Amni or any of their subsidiaries or
          holding companies,

     shall be extinguished and cease to be payable.

3.2     Amni acknowledges and agrees that, following the termination of the ISA,
and notwithstanding Clause 8 hereof, Amni shall be liable to pay, and shall pay,
demobilisation  expenses  to  Sedco  and  Schlumberger  (including  under Clause
14.1.3.2)  up to a maximum amount of US$750,000, provided that Amni shall not be
required  to  make  such  payment  if the MOPU and the Equipment shall have been
chartered  under  contract  to a third party on terms that such charter contract
commences  immediately  upon the termination of the ISA (or at the latest within
15  days  of  the  date  of  such  termination).

4.     Completion:

4.1     The  transfer  contemplated  by  this  Agreement  shall  be  completed
immediately  upon  execution  of this Agreement (time being of the essence).  At
such  completion  ("Completion")  Liberty  and  Amni  will  deliver  to  Sedco:

     (a)  a Bill of Sale in the form set out in Schedule 2 executed by Liberty;

     (b)  a Deed of  Amendment  amending the terms of the ISA in the form agreed
          between the parties executed by Liberty and Amni;

     (c)  a notice in the form set out in Schedule 4 executed by Amni; and

     (d)  confirmation  that they have made payment to Sedco by wire transfer of
          the sum of US$252,600 in respect of the period from 19 June 1998 to 30
          June 1998 (both days inclusive) for services rendered pursuant to ISA.

                                      -3-
<PAGE>
5.   Warranties:

5.1  Liberty, Abacan and Amni represent and warrant to Sedco and Schlumberger as
     follows:

     (a)  Liberty,  Abacan and Amni have the  requisite  power and  authority to
          enter into and perform this Agreement.

     (b)  This Agreement  constitutes  and any other  documents  which are to be
          delivered  at  Completion  will,  when  executed,  constitute  binding
          obligations of such of Liberty, Abacan and Amni as are parties to them
          in accordance with their respective terms.

     (c)  The execution and delivery of this  Agreement,  and the performance by
          Liberty, Abacan and Amni of their obligations under it, will not:

          (i)  result  in  a  breach  of  any  provision  of  the  documents  of
               constitution of Liberty, Abacan or Amni;

          (ii) result  in a breach  of,  or  constitute  a  default  under,  any
               instrument  to which  Liberty,  Abacan and Amni are parties or by
               which they are bound; or

          (iii)result in a breach of any order,  judgment or decree of any court
               or  governmental  agency  to which  Liberty,  Abacan  or Amni are
               parties or by which they are bound.

     (d)  All consents and agreement of third parties which are required for the
          transfer contemplated by this Agreement have been obtained in writing.

     (e)  Other than the Permitted Lien (as hereinafter defined), no third party
          (other than Sedco or Schlumberger) has any right, title or interest in
          or to the Equipment.

     (f)  Neither Liberty,  Abacan, nor Amni has any right, title or interest in
          or to the MOPU nor, to the best of their  knowledge  and belief,  does
          any third party other than the Permitted Lien.

     (g)  Other than the Permitted  Lien or as set out in Schedule 3 hereto,  no
          option, right to acquire, mortgage, charge, pledge, lien (other than a
          lien arising by operation of law in the ordinary course of trading) or
          other form of security or  encumbrance or equity on, over or affecting
          the whole or any part of the Equipment is outstanding  and there is no
          agreement  or  commitment  to give or create any and no claim has been
          made by any person to be entitled to any.

     (h)  Neither  Liberty nor Amni has agreed to acquire any asset comprised in
          the  Equipment  on terms that the  property  is not passed  until full
          payment is made.


                                      -4-
<PAGE>
     (i)  Following  the transfer of the  Equipment at  Completion,  Liberty and
          Amni  will  have no  further  right,  title or  interest  in or to the
          Equipment.

For  the  purposes  of  this  Clause  5.1,  "Permitted Lien" means any charge or
security interest in favour of Credit Suisse First Boston or Total International
Limited.

5.2  Liberty,  Abacan and Amni accept that Sedco and  Schlumberger  are entering
     into this Agreement in reliance upon each of the warranties set out above.

6.   Taxation etc:

6.1  Sedco shall be  responsible  for any VAT or customs duties arising from the
     transfer of the Equipment hereunder.

7.   General:

7.1  Liberty,  Abacan and Amni  shall  from time to time and at all times  after
     Completion  execute all such deeds and  documents and do all such things as
     Sedco  or   Schlumberger   may   reasonably   require  for  perfecting  the
     transactions  intended to be effected  under or pursuant to this  Agreement
     and for  vesting  in Sedco the full  title and  benefit  of the  Equipment.
     Without limiting the foregoing,  Liberty and Amni agree to execute all such
     documents  and do all such things as may be  necessary to vest in Sedco the
     benefit  of  manufacturer's  and  supplier's  warranties  in respect of the
     Equipment of which they may have the benefit.

7.2  Liberty  and  Amni   undertake  to  preserve  and  transfer  to  Sedco  all
     documentation  relating to government  duties,  taxation and customs levies
     that may be relevant to or relate to the Equipment.

7.3  This  Agreement  constitutes  the  entire  agreement  between  the  parties
     relating to the sale and purchase of the  Equipment and no party has relied
     on any representation made by any other party or any other person except as
     expressly set out herein.

7.4  The parties agree that the contents of this  Agreement,  and all details of
     the  transactions  contemplated in it, shall be kept strictly  confidential
     and shall not be disclosed to any other person.

7.5  This Agreement may be executed in any number of counterparts, but shall not
     be effective until each party has executed at least one  counterpart.  Each
     counterpart  shall  constitute an original of this  Agreement,  but all the
     counterparts shall constitute one and the same instrument.

7.6  The  obligations  of  Liberty,  Abacan and Amni under  this  Agreement  are
     several and not joint.

8.   Waiver of Claims

                                      -5-
<PAGE>
8.1  Schlumberger  and Sedco hereby  waive and release (on behalf of  themselves
     and the  Schlumberger  Group) all claims against and  indebtedness due from
     Liberty,  Abacan,  Abacan Resource  Corporation and all of its subsidiaries
     and  affiliates  arising  under the terms of the ISA or in respect of or in
     connection with operations  related thereto.  Schlumberger and Sedco hereby
     waive and release all claims against and indebtedness due from Amni arising
     under the terms of the ISA arising on or before 30 June 1998, or in respect
     of or in  connection  with  operations  related  thereto  and arising on or
     before 30 June 1998.  Schlumberger and Sedco accept that Amni,  Liberty and
     Abacan are  entering  into this  Agreement in reliance  upon the  foregoing
     waiver.

9.   Jurisdiction:

9.1  This  Agreement  shall be  governed by and  construed  in  accordance  with
     English  law.  All  disputes  or claims  arising  in  connection  with this
     Agreement   shall  be  settled  under  the  Rules  of  Arbitration  of  the
     International  Chamber  of  Commerce  by  three  arbitrators  appointed  in
     accordance with such rules.

AS  WITNESS  the hands of the duly authorized representatives of the parties the
day  and  year  first  above  written.


                                      -6-
<PAGE>
                                   SCHEDULE 1
                                    EQUIPMENT



See  attached  document

                                      -7-
<PAGE>
                                   SCHEDULE 2
                                  BILL OF SALE



Know  all  men  by  these  presents,  that:

LIBERTY TECHNICAL SERVICES LIMITED, a company incorporated under the laws of the
Bahamas  (hereinafter called the ASeller"), does hereby bargain and sell all its
right, title and interest in all process equipment and other equipment, fixtures
and fittings attached to, or connected with, the Mobile Offshore Production Unit
(the  ALangley"),  including,  without  limitation,  the power plant (comprising
three  gas  turbines)  and  that  equipment  specified  in  Schedule  1  hereto
(hereinafter  called  the  AEquipment")  unto:

     SEDCO  FOREX  INTERNATIONAL,  INC.,  a  company  incorporated  under  the
     laws of Panama,  its  successors  and  assigns  ("Sedco")

for  a  consideration  valued  at  US$8,000,000.

FURTHER,  that  the Seller hereby warrants that no third party (other than Sedco
or  Schlumberger  Overseas  S.A.)  has any right, title or interest in or to the
Equipment  and  that  title  to  the  Equipment  is free and clear of all liens,
charges,  claims,  mortgages  or  encumbrances  (and  there  is  no agreement or
commitment  to  give  any).

NO  WARRANTY  AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE IS GIVEN
BY  THE  SELLER.

In  testimony  whereof,  the  Seller  has  executed  this  Bill  of  Sale by its
authorized  representative  this  30th  day  of  June  1998.

LIBERTY  TECHNICAL  SERVICES  LIMITED



-------------------------------------
Signature

Name:
Title:


                                      -8-
<PAGE>
                                   SCHEDULE 3
                          PERMITTED SECURITY INTERESTS



None



                                      -9-
<PAGE>
                                   SCHEDULE 4
                                     NOTICE



Amni  International  Petroleum  Development Company Limited hereby gives six (6)
months'  notice  to  Sedco  Forex International, Inc. ("Sedco") and Schlumberger
Overseas  S.A.  ("Schlumberger")  that the Integrated Services Contract dated 20
October  1995  (as  amended  by  a Deed of Amendment dated 30 June 1998) ("ISA")
shall  be  terminated  on 30 December 1998 pursuant to Article 14.1.1 thereof In
connection therewith, it acknowledges that such termination is for reasons other
than  the  material  breach  or  default  of  Sedco  or  Schlumberger.




Authorized  signatory  for  and  on
behalf  of  Amni  International  Petroleum
Development  Company  Limited     30  June  1998

                                      -10-
<PAGE>
SIGNED  by  T.B.  Folawiyo                )
                                          )
                                          )
for  and  on  behalf  of  ABACAN          )  /s/  T.B.  Folawiyo
TECHNICAL  SERVICES  LIMITED              )
in  the  presence  of:                    )
J.  Harvie                                )


SIGNED  by  T.B.  Folawiyo                )
                                          )
                                          )
for  and  on  behalf  of  LIBERTY         )  /s/  T.B.  Folawiyo
TECHNICAL  SERVICES                       )
LIMITED  in  the  presence  of:           )
J.  Harvie                                )


SIGNED  by                                )
                                          )
                                          )
for  and  on  behalf  of  AMNI            )  /s/  Tunde  Afolabi
INTERNATIONAL  PETROLEUM                  )
DEVELOPMENT  COMPANY                      )
LIMITED  in  the  presence  of:           )
Musa  Bello  Mustapha                     )


SIGNED  by  Didier  Fontaine              )
                                          )
                                          )
for  and  on  behalf  of  SEDCO  FOREX    )  /s/  Didier  Fontaine
INTERNATIONAL,  INC.  in  the             )
presence  of:                             )
name  unrecognizable                      )


SIGNED  by  Michael  McGuiny              )
                                          )
                                          )
for  and  on  behalf  of  SCHLUMBERGER    )  /s/  Michael  McGuiny
OVERSEAS  S.A.  in  the                   )
presence  of:                             )
name  unrecognizable                      )


                                      -11-
<PAGE>