African Petroleum wins Ivory Coast block

Location: African Petroleum has been awarded a 90% operated stake in Block CI-509 off the Ivory Coast

West African-focused explorer African Petroleum has been awarded an exploration permit over Block CI-509, off the Ivory Coast.

Under its agreement with the government and state-run company Petroci, African Petroleum will operate the 1091 square kilometre permit area and hold a 90% stake, with Petroci holding the remaining 10%.

The agreement follows African Petroleum’s recent award of a 90% stake in offshore Block CI-513 in December of last year.

The company said its exploration programme off the Ivory Coast would target deep-water Upper Cretaceous sub-marine fans which were considered to have similar potential as discoveries in the Tullow Oil operated Jubilee field off Ghana and Anadarko Petroleum’s Mercury discovery off Sierra Leone.

It added that it expected to kick off a 3D seismic programme over both blocks in mid-April.

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