NEWS
Ivory Coast: Tullow signs a production sharing contract for a new offshore exploration licence
Tullow Oil has announced the signing of a Production Sharing Contract (PSC) for the offshore exploration licence CI-803 in Ivory Coast. Tullow will operate the licence with 90% of the capital, the remaining 10% being held by PetroCi. CI-803 covers an area of 1 345 km² and is adjacent to the CI-524 licence which is also owned by Tullow (90%, operator) and PetroCi (10%).
The new exploration licence strengthens Tullow's position in the Tano Basin, where significant exploration has been identified in the proven Cretaceous turbidite zones, similar to the producing zones in the adjacent TEN and Jubilee fields. The work programme for the first two and a half years includes reprocessing of existing 3D seismic data, as well as prospect evaluation. In CI-524, a number of drilling candidates are being matured while preparations continue for an exploration well to be drilled in 2024.
Rahul Dhir, CEO of Tullow Oil plc, said: « Cette nouvelle licence souligne notre ferme engagement à investir et à libérer le potentiel des ressources en Côte d’Ivoire. Notre stratégie d’exploration se concentre sur les champs de production existants dans des bassins où nous avons une compréhension différenciée, dans ce cas grâce à notre compréhension approfondie du bassin de Tano.
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