LukOil(OAO) (LKOB) - Re Project in Sierra Leone
RNS Number : 5571Q
07 November 2012
LUKOIL JOINS UPSTREAM PROJECT OFF SIERRA LEONE SHORE IN THE GULF OF GUINEA
LUKOIL has acquired a 25% stake in the geological exploration, development and
production project at the SL-4B-10 offshore block in the waters of the
Republic of Sierra Leone in the Gulf of Guinea.
LUKOILacquired this stake from Canada's Talisman Energy, the project
operator. The other project parties are Malaysia's Petronas (25%) and
Britain's Prontinal Ltd (20%).
The block, with an area of approximately 2,200 sq. km and water depths ranging
from 100 to 3,000 meters, borders on another block, SL-05-11, where LUKOIL is
the operator of exploration and development.
Prospecting and exploratory drilling is currently being conducted at the
Djembe structure by means of a Stena DrillMax drill rig.
A Framework Agreement for the SL-4B-10 block was signed in 2003. The first
geological exploration stage of the contract area (2D seismic surveys with the
scope exceeding 300 linear kilometers and 3D covering more than 1,000 sq. km)
was completed in 2009. The exploration resulted in the discovery of several
potential pay zones in the block. Besides, an earlier exploratory well with a
depth of more than 2,400 meters, drilled in the shallow waters of the block in
1982, had helped trace oil showings in the Albian-Cenomanian deposits.
This information is provided by RNS
The company news service from the London Stock Exchange
STRGMMGMZNRGZZM -0- Nov/07/2012 12:10 GMT
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