Tullow Oil PLC signed a production sharing contract (PSC) for offshore exploration license CI-803 in Tano basin, Côte d’Ivoire.
CI-803 covers an area of 1,345 sq km and is adjacent to license CI-524 which is undergoing drilling evaluation and will be explored in 2024. Significant prospectivity has been identified in the area within the proven Cretaceous turbidite plays, like plays which are producing in adjacent TEN and Jubilee fields, the company said in a release Dec. 14.
The work program for CI-803 for the initial 2 ½ years of the PSC includes reprocessing existing 3D seismic data and prospect evaluation.
Tullow is operator of CI-803 and CI-524 with 90% interest. PetroCi holds the remaining 10%.
