Tullow awarded 4 licences in Côte d’Ivoire

Tullow Oil plc (Tullow) has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%...


Tullow Oil plc (Tullow) has acquired 90% stakes in four onshore blocks in Côte d’Ivoire.

Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%.

The four blocks – CI 518, CI519, CI301 and CI302 – cover 5,035 square kilometres and located on the coastline of Côte d’Ivoire mostly to the west of Abidjan, a statement from Tullow said on Thursday, 12 October.

Tullow said it believes that this acreage will complement the Group’s existing exploration portfolio as the blocks are located in a proven petroleum system, indicated by multiple oil seeps and past production from the Eboinda Oil Sands.

If commercial discoveries are made, the maturity of Côte d’Ivoire’s oil industry suggests a relatively short and low-cost path to production, the statement added.

Tullow said it intends to initiate work immediately on these licences to allow a full tensor gradiometry (FTG) survey to start in early 2018.

This early survey data will be used to assess the potential of the licenses and guide future acquisition of seismic data.

Tullow has worked in Côte d’Ivoire for 20 years both as an explorer and as a producer and holds a non-operated position in the Espoir field which produces approximately 4,000 bopd net to Tullow.

Commenting on the development, Tullow CEO Paul McDade said: “I am very pleased to have signed the licences for these blocks and look forward to exploring again in Côte d’Ivoire. We have a long history in Côte d’Ivoire having been in country since 1997 and I am excited about the potential that these blocks, with their proven petroleum system, offer.”


Source: Ghana/Goldoilgas.com/Patrick Ayumu/Mob: 0544322308/Twitter: @yumusyumus/Facebook: Patrick Ayumu/ Email: ttrickky@yahoo.com



Related Posts

Most new artistes're "wannabes" – Rex Omar

Old musicians not stopping younger ones, the door is open – Rex Omar

BET nominations no big deal – Trigmatic

Kim Kardashian lobbies Trump over inmate

See the $30k b'day party Chris Brown threw his daughter

Lemar Odom : Brothel owner's house burns down

Support Stonebwoy: Shatta Wale to fans

Home and Away's 'Morag' actress dies aged 77

Leave a reply
your email address will not be published

Featured Posts

Zidane resigns five days after CL win


$178m GVG/Kelni deal: Minority calls for probe


Ghana "finished" under Akufo-Addo – Ayariga


Most new artistes're "wannabes" – Rex Omar


3 reasons why Microsoft's more valuable than Google


Free SHS: GHS124m released


Three Vanguards arrested for extortion


$178m GVG/Kelni deal: Minority calls for probe


Most new artistes're "wannabes" – Rex Omar


3 reasons why Microsoft's more valuable than Google


Three Vanguards arrested for extortion


3 reasons why Microsoft's more valuable than Google


Free SHS: GHS124m released


Free SHS: GHS124m released