Lukoil: Oil potential at exploration well (Côte d’Ivoire)

LUKOIL Overseas has completed drilling its first offshore exploration well, Capitaine East-1x, at block CI-101 in the Republic of Côte d’Ivoire.

The well penetrated through 140 meters of sandstone from a Turonian formation. The survey confirmed the presence of hydrocarbons, indicating the oil potential of the area.

The Capitaine East-1X well target depth exceeds 5,200 m; the water depth at the well location exceeds 2,000 m. Drilling was conducted using the Eirik Raude, a 5th generation self-propelled semi-submersible drilling rig.

At the end of 2013 LUKOIL completed drilling an appraisal well at the Independance field, located north-east of block CI-101 (at the adjacent CI-401 block). Currently, a survey is in progress to determine the block’s resource potential. A proposal to drill another appraisal well at the Independance field will be considered soon.

LUKOIL entered a Production Sharing Agreement for the exploration, appraisal, development and production of hydrocarbons in blocks CI-101 and CI-401 in 2006. Shares in the project are distributed as follows: LUKOIL: – 56.66% (operator since 2012), PanAtlantic (formerly Vanco) – 28.34%, state-owned PETROCI Holding – 15%.

Press Release, April 3, 2014

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