SOCO lines up drilling targets in Marine blocks

SOCO Exploration is preparing to drill up to three exploration wells in two blocks offshore Congo (Brazzaville), with the first well due to spud in early September.

Offshore staff

LONDON -- SOCO Exploration is preparing to drill up to three exploration wells in two blocks offshore Congo (Brazzaville), with the first well due to spud in early September. The contracted rig is in dry dock undergoing refurbishment ahead of this program.

The initial well, expected to take around 45 days to drill, will examine a pre-salt target on the Marine XI block, with estimated pre-drill recoverable resources of 165 MMbbl.

SOCO’s second well will target the Miocene interval above the salt layer on the Marine XIV block, with potential recoverable resources of 40 MMbbl. This well should take around 30 days to drill.

If the first well is successful, an appraisal well should follow on the pre-salt target. If not, the final well in the program will target a Miocene prospect in the Marine XI block holding potentially 70 MMbbl recoverable.

05/16/2011

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