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Tuesday, July 9, 2013
CNR International has signed a PSC with the government of Cote d’Ivoire for Block CI-12 offshore the country. CNR will have a 60% working interest. CI-12 will be the second high-impact exploration block in Cote d’Ivoire.
CNR will operate the block, located to the west of the company’s operated Espoir and Baobab fields, in water depths of 250 to 300 meters. The block contains two undeveloped discoveries, drilled during the 1980s, and potential Turonian fan channels which were not penetrated by previous wells.
Commenting on the signing, Dave Bell, CNR International’s 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-three years.”
Bell added that the company was looking for a combination of exploration play types across a number of basins to balance geological risk, while providing the opportunity to add real value to the company through exploration.
He said: “Our people in country have excellent relationships with the authorities, which will enable our operations to proceed in both a safe and efficient manner.”
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