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SOCO Awarded New Exploitation Permits

Source: www.gulfoilandgas.com 11/16/2017, Location: Africa

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SOCO is pleased to announce that SOCO Exploration and Production SA ("SOCO EPC"), the Operator of the Marine XI Block, offshore the Republic of Congo (Brazzaville), has been informed that the applications for a 25-year exploitation permit ("PEX") over each of the Viodo, Lideka and Loubana areas have now been adopted by the Council of Ministers of the Republic of Congo (Brazzaville) and await publication in the Official Gazette. These applications covered areas that were previously part of the shallow water Marine XI permit, which expired at the end of March 2017 following a one-year extension.

These applications are in addition to the Lidongo PEX, also formerly part of Marine XI, which was validated on 26th September 2016 by the Council of Ministers. The Lidongo PEX was published in the Official Gazette N°40 dated 6th October 2016, which is consequently the commencement date of the licence.

SOCO EPC holds a 40.39% interest and is designated Operator of each of the Lidongo, Viodo, Lideka and Loubana permit areas. Project partners in each permit are WNR, SNPC, AOGC and PetroVietnam Exploration and Production. SOCO will assess the future programme in line with wider strategy and update the market in due course.

For more information about related Opportunities and Key Players visit West Africa Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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