Lukoil, Vanco, GNPC and PETROCI will initiate exploration and an appraisal drilling programme at Cape Three Points Deep Water (CTPDW) and CI-401 in the Gulf of Guinea, off the shore of West Africa.

DryShips subsidiary Ocean Rig is contracted to drill four wells in the CTPDW block, including exploration wells and appraisal wells, with drilling works to commence in April-May 2011.

An exploration well will be drilled in CI-401 during the first quarter of 2012.

Seismic surveys and the drilling of one exploration well at each block have been completed.