Petroleum Africa
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Friday, June 24, 2016
The government of Cote d’Ivoire, through its state-run oil firm Petroci, is requiring Quest Energy to take a partner on Block CI-531. Over the past several months the government has been pushing the UK-based company to find a partner and has even taken steps to facilitate a partnership, however Quest does not seem to want anything to do with a partner.
CNOOC was the first company that was recommended to Quest by the government. Quest and CNOOC did enter into negotiations but they were not successful. Currently the government is backing negotiations with Canadian Natural Resources or CNR. Cote d’Ivoire would like Quest Energy to partner with CNR as it would allow for the sharing of costs on the block.
Although an agreement was reached with the Ministry of Petroleum on the work program and signing bonus, the government says that Quest must obtain agreements with other companies to be able to enter into a PSC with Ivoirian authorities.
Quest Energy also holds the CI-521 and CI-522 blocks, onshore near the border with Ghana. It should be noted that no firm agreement has been signed on these assets.
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