Offshore staff
LONDON -- SOCO Exploration and Production Congo S.A. has agreed to farm-out 8.5% of its interest in the Marine XI block, offshore the Republic of Congo, to Petrovietnam Exploration Production. The deal is subject to government approval.
SOCO EPC will remain the operator with a 29% working interest in the block. The remaining interests are held by Lundin Marine SARL (18.75%), Raffia Oil SARL (18.75%), the national oil company Société Nationale des Pétroles du Congo (15%), and Africa Oil & Gas (10%).
The Marine XI block is in water depths ranging up to 110 m (361 ft), and covers approximately 1,400 sq km (541 sq mi). A multi-well drilling program is scheduled for the second half of 2008.
03/04/2008
