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Total Discovers Oil Offshore Ivory Coast

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Total finds 130 feet of net oil pay in a deep-water well off the Ivory Coast.

France's Total reported Thursday that its Saphir-1XB exploration well on Block CI-514, offshore Ivory Coast, has encountered hydrocarbons.

Lying in 7,550 feet of water, Saphir-1XB is the first well drilled in the block. Drilled to a depth of 15,270 feet it found approximately 130 feet of net pay that contains light (34-degree API) oil in a series of 1,150 feet of reservoirs.

Total said the data acquired during drilling are being analyzed and will be used to determine the area's potential as well as the design of the delineation program. The firm also has plans to drill two wells in blocks CI-515 and CI-516 by the end of this year.

Marc Blaizot, Total's Senior Vice President for Exploration, commented in a company statement:

"Drilled in an abrupt margin play, this first well is the first discovery in the San Pedro Basin, a frontier exploration area in Ivory Coast. Having confirmed the presence of a petroleum system containing light oil, we will next evaluate this very promising find and focus on its extension to the north and east."

Total E&P Côte d’Ivoire operates Block CI-514 with a 54-percent interest. CNR International and PETROCI Holding hold 36 percent and 10 percent respectively.



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