Azonto to Sell Stake in Vioco

Friday, July 10, 2015

Azonto Petroleum plans to sell its 35% stake in Vioco Petroleum Ltd. to Vitol E&P Ltd. Azonto said in a release that the increased cost growth experienced by the Gazelle project in recent months, which resulted in delays, was one of the reasons for the planned sale of its asset.

As part of the deal, Azonto will also sell certain wellhead drilling equipment in Cote d’Ivoire to Vitol.

Vioco holds an 87% working interest in, and is the operator of, the CI-202 Block in Cote d’Ivoire, within which the Gazelle project is located. Vitol E&P already holds 65% of the shares in Vioco.

« GO BACK

You may also like

" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">

First LNG Realized at the Greater Tortue Ahmeyim Project

" alt="United Energy Acquires Western Desert Producer APEX">

United Energy Acquires Western Desert Producer APEX

" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">

Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG

" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">

ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System

" alt="Tullow Highlights 2025 Operational Plans in Ghana">

Tullow Highlights 2025 Operational Plans in Ghana

" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">

TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years

" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">

Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession

" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">

Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market