CALGARY, Canada --CNR International has signed a production sharing contract for block CI-12 offshore Côte d’Ivoire. The company will have a 60% operating interest.
CI-12 is west of the company’s operatedEspoir and Baobab fields, in water depths of 250-300 m (820-984 ft). It contains two undeveloped fields discovered in the 1980s, and potential Turonian fan channels not penetrated by previous wells.
Dave Bell, vp, Exploration, said, “Securing CI-12 is part of CNR International’s strategy to build a portfolio of high-impact exploration acreage in areas where we understand the geology, can identify opportunities, and have local supporting infrastructure. We have lots of work to do, securing the new data and assessing the full potential of the block over the next two to three years.
Bell added that the company is looking for a combination of exploration play types across a number of basins to balance geological risk.
At Espoir, the company and its partners recently approved a five-production well and three-injector well infill drilling program, designed to lift production.
At Baobab, a third phase of development is getting under way, comprising five new production wells and one injector, with first oil expected in the second half of 2015.