GENEVA -- Vitol has been assigned a 21.55% working interest in Marine XIV block, offshore Republic of Congo, via its subsidiary Raffia Oil SARL.
The block, which is located in the Lower Congo basin, lies in shallow water adjacent to the company's other Congo license, Marine XI. Previous exploration activity on the block has resulted in several oil discoveries and preliminary interpretation of 3D seismic data indicates a number of pre- and post-salt prospects, the company says.
The company has completed acquisition of a 3D seismic survey using a multi-azimuth technique to compliment existing data. Post-acquisition processing is under way.