Lukoil Farms into Ivory Coast Block

Russia's Lukoil reported Tuesday that it has farmed into the Block CI-504 exploration, development and production project offshore Cote d'Ivoire.

Lukoil said it has acquired a 65-percent stake in the project from Nigerian firm Taleveras Energy, which will still retain 25 percent itself. The remain 10-percent of the project is held by state oil company Petroci.

Lukoil noted that Block CI-504 is located in close proximity to the producing Baobab field. It covers an area of 153 square miles and water depths range between 2,625 feet and 6,890 feet. The block also borders Block CI-205 to the south, which is already operated by Lukoil/

Lukoil said the new license will see it commit to three work periods, the first of which calls for the interpretation of historical 2D and 3D seismic data as well as additional 3D seismic data acquisition by January 2014. Two other five-year periods will provide for the drilling of two exploration wells.

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Circle Oil Agrees Repayment Extension (Jun 24)
 -  MOL Group Makes Pakistan Gas Discovery (Jun 24)
 -  Statoil to Launch Training Tool for 50... (Jun 24)
 -  Atkins Wins Engineering Support Servic... (Jun 23)
 -  NZEC Plans to Boost Exploration, Appra... (Jun 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
District Representative III
Expertise: Business Development|Sales
Location: Houston, TX
 
District Representative III - UCR
Expertise: Business Development|Sales
Location: San Antonio, TX
 
Land Administration Technician I
Expertise: Contracts Administration|Landman|Secretarial or Administrative
Location: Houston, TX
 
search for more jobs

Light Crude Oil : $50.11/BBL 1.99%
Natural Gas : $2.69/MMBtu 0.74%
Brent Crude Oil : $50.91/BBL 2.06%
Updated in last 24 hours