African Petroleum\u2019s wholly owned\u00a0subsidiary,\u00a0African Petroleum C\u00f4te d\u2019Ivoire, has entered\u00a0into an agreement with state-run firm Petroci to acquire one offshore\u00a0exploration permit covering\u00a0Block CI-513.<\/p>\n
The block is located in the western offshore area of Cote d\u2019Ivoire and covers a total surface area of 1,440 sq km. African Petroleum will hold the block with a 90% interest and operatorship. Petroci holds the remaining 10%.<\/p>\n
The company\u2019s exploration program in Cote d\u2019Ivoire will target deepwater Upper Cretaceous submarine fans, which are considered to have similar high impact potential as discoveries in the Jubilee Field in Ghana and the Mercury discovery in Sierra Leone.<\/p>\n
Karl Thompson, CEO, comments \u201cAfrican Petroleum is already one of the largest\u00a0net exploration acreage holders in the West African transform margin focused on the newly emerging and highly successful Upper Cretaceous exploration fairway. The award of CI-513 initiates\u00a0African Petroleum\u2019s commitment to building a high grade exploration portfolio in the proven oil basin of C\u00f4te d\u2019Ivoire and accelerating exploration in the region. The new entry into C\u00f4te d\u2019Ivoire is\u00a0part of African Petroleum\u2019s strategy to build an extensive portfolio in proven Upper Cretaceous basins of C\u00f4te d\u2019Ivoire, Sierra Leone and Liberia as well as building on our pre-eminent position in\u00a0the frontier Gambia\/Senegal Western Margin. We anticipate announcing significant additional new exploration awards in 2012.\u201d<\/p>\n
The signing of the PSA in Cote d\u2019Ivoire follows the award of two blocks in Senegal \u2013 Rufisque Offshore\u00a0Profond\u00a0and\u00a0Senegal Offshore Sud Profond. The Senegal acreage covers 18,277 sq km. The company holds 90%\u00a0interest with its partner Petrosen holding the remaining 10%.\u00a0African Petroleum currently holds a 100% interest in\u00a0Blocks LB-08\u00a0and\u00a0LB-09\u00a0offshore Liberia, where\u00a0it has completed 5,100 sq km of 3D seismic data. It has drilled one well in LB-09 with encouraging\u00a0results and recently spud its second well.<\/p>\n
The company also holds acreage in Sierra Leone with a 100% interest in\u00a0Block SL-03\u00a0where it recently\u00a0completed a 3D seismic acquisition program covering 2,500 sq km. In Gambia the company has a 60% operating interest in\u00a0offshoreblocks A1\u00a0and\u00a0A4\u00a0where it has\u00a0completed 2,500 sq km of 3D seismic. This is in conjunction with its partner Buried Hill Gambia.<\/p>\n
by PetroleumAfrica<\/em><\/p>\n Stay with Sierra Express Media, for your trusted place in news!<\/em><\/strong><\/p>\n African Petroleum\u2019s wholly owned\u00a0subsidiary,\u00a0African Petroleum C\u00f4te d\u2019Ivoire, has entered\u00a0into an agreement with state-run firm Petroci to acquire one offshore\u00a0exploration permit covering\u00a0Block CI-513. The block is […]<\/p>\n","protected":false},"author":1,"featured_media":27567,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[751,1],"tags":[9637],"class_list":["post-33906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-news","category-uncategorized","tag-african-petroleum"],"_links":{"self":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts\/33906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33906"}],"version-history":[{"count":0,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/wp\/v2\/posts\/33906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sierraexpressmedia.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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