Light oil discovery made in deepwater offshore Cote d’Ivorie

Anadarko Petroleum Corp. (NYSE:APC) reports a light oil discovery at the Paon-1X well in deepwater offshore Cote d’Ivoire.

Offshore staff

HOUSTON –Anadarko Petroleum Corp. (NYSE:APC) reports a light oil discovery at the Paon-1X well in deepwater offshore Cote d’Ivoire. The well, in block CI-103 found more than 100 ft. (31 m) of 40º API Turonian oil pay.

The Paon-1X was drilled to a TD of 16,700 ft. (5,090 m), in water depths of 7,195 ft. (2,193 m). The partnership plans to suspend the Paon-1X well for possible future use in appraisal and development operations.

"This discovery confirms the Upper Cretaceous fan system present in Ghana extends westward into Cote d'Ivoire and provides significant running room within the CI-103 block,” said Bob Daniels, Anadarko’s senior VP, worldwide exploration.

Anadarko holds a 40% working interest in the CI-103 block. Additional partners include the operator, Tullow at 45%, and the Societe Nationale d'Operations Petrolieres de Cote d'Ivoire (Petroci) with 15%.

6/7/2012

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