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Friday, December 19, 2014
Cote d’Ivoire signed a PSA with US supermajor ExxonMobil for access to two ultra-deepwater blocks offshore the West African country according to Oil and Energy Minister Adama Toungara. The PSAs cover Blocks CI-602 and CI-603.
“The maximum exploration period is nine years for each block and, in the case of a commercial discovery, the length of the contract will be 25 years,” Toungara said.
The country is looking to boost its investment profile and toward that end has seven other ultra-deepwater blocks available. A promotional event was held during October promoting the blocks in Houston. According to Prime Minister Daniel Kablan Duncan, the government is in negotiations with the AGR Group and Total for access to blocks.
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