LUKOIL completes drilling of appraisal well of Cote D'Ivoire Coast

The well’s depth is over 4,500 m, while water depth at the drilling site exceeds 1,600 m. The drilling was done on Ocean Rig’s Eirik Raude, a 5th generation self-propelled offshore platform.

The well has proven oil presence in the Turonian sands of the oil and gas condensate field of the Independance structure (discovered in December 2011). The data provided by the well is currently being processed in order to summarize the obtained information about the field and evaluate the potential resource base of the project. This work will result in a final decision on further field appraisal.

The next phase of the drilling program off the Cote d’Ivoire coast will include drilling an exploration well in block CI-101.

The adjacent CI-101 and CI-401 blocks are located 30-40 km off the Cote d’Ivoire coast in the Tano oil and gas basin. The areas of the CI-101and CI-401 blocks are 2,403 and 304 square kilometers, respectively. The water depths range from 100 to 2,500 meters.

LUKOIL entered a production sharing agreement for the exploration, appraisal, development and production of hydrocarbons in blocks CI-101 and CI-401 in 2006. Shares in the project are currently distributed as follows: LUKOIL – 56.66% (operator since 2012), PanAtlantic (ex Vanco) – 28.34%, state-owned PETROCI Holding – 15%.