Lukoil has acquired a 65% interest in Block CI-504 in the Gulf of Guinea offshore Ivory Coast from Taleveras Energy, a private Nigerian company.
The 399-sq-km block is close to Baobab oil field in 800-2,100 m of water. It abuts on the south Block CI-205, which Lukoil operates with a 63% interest.
The CI-504 work program includes an initial exploration period for interpretation of historical 2D and 3D seismic data and acquisition of additional 3D data by January 2014. It calls for the drilling of two exploratory wells over the next two periods, totaling 5 years.
Lukoil Overseas, a wholly owned Lukoil subsidiary, is operator. Taleveras retains 25%, and state-owned Petroci Holding holds 10%.