Offshore staff

ABIDJAN, Côte d’Ivoire – Vanco Côte d’Ivoire Ltd. has announced a discovery offshore Côte d’Ivoire block CI-401 with the Independence 1X well.

The well penetrated the targeted objective and found a series of good-quality sandstones containing light oil, said Vanco for partners LUKOIL Overseas Côte d’Ivoire Ltd. and PETROCI Holding.

Full analysis, including wireline logs, reservoir pressures, and fluid samples, confirms that the well penetrated 8 m (26 ft) of hydrocarbon pay in good-quality Turonian-aged sand package. Hydrocarbon samples indicate 40° API gravity.

The well will be temporarily abandoned at a total depth of 4,132 m (13,556 ft).

The Independance-1X was drilled in a water depth of 1,689 m (5,541 ft), approximately 93 km (58 mi) south-southeast of Abidjan. It is one of the deepest water exploration wells drilled to date in the eastern offshore Ivorian basin, said Vanco. The well was drilled by the Ocean Rig Olympia drillship.

This is the second exploration well drilled in block CI-401, which encompasses an area of 619 sq km (239 sq mi) in water depths ranging from 950 to 2,100 m (3,117 to 6,890 ft).

Drilling is in progress on one more deepwater exploration well in CI-401, the Albacore-1X is 33 km (21 mi) east of Independance-1X on a similar large Turonian deepwater slope channel stratigraphic trap.

Vanco (operator) holds a 28.34% participating interest with LUKOIL holding a 56.66%. PETROCI Holding, the state oil company, holds a 5% participating interest together with a 10% carried interest.

12/08/2011