Vanco Cote d’Ivoire, in partnership with Lukoil Overseas Cote d’Ivoire and Petroci Holding, has discovered oil in block CI-401, offshore the Ivory Coast.
The block’s Independance-1X exploration well penetrated the targeted objective and found a series of good-quality sandstones containing light oil and gas condensate.
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The full analysis of well results, including wire line logs, reservoir pressures and fluid samples, confirms that the well penetrated 8m of hydrocarbon pay in good-quality Turonian-age sandstone.
Hydrocarbon samples recovered from the Independence-1X well indicate a 40° API gravity.
Independance-1X was drilled in a water depth of 1,689m, approximately 93km south-east of Abidjan. The well will be temporarily abandoned at a total depth of 4,132m.
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The well is the second exploration well to be drilled in block CI-401, which encompasses an area of 619km2, in water depths ranging from 950m to 2,100m.
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By GlobalDataThe Ivory Coast Government, Vanco Cote d’Ivoire and Petroci Holding signed a production sharing contract covering block CI-401 on 30 September 2005.
Lukoil Overseas Cote d’Ivoire joined the block in 2007.
Vanco owns a 28.34% participating interest in the block, Lukoil has 56.66%, and state-owned Petroci Holding has a 5% participating interest and a 10% carried interest.
Lukoil will continue the analysis of the discovery, its scale and development prospects in order to make a further investment decision for the project’s commercialisation.
Lukoil and PetroVietnam signed a memorandum of understanding that states that the companies will work together in the area of hydrocarbon exploration, development and production in countries including Vietnam and Russia.
