Continental Focus, International Reach

SOCO Moving Ahead in West Africa

Tuesday, September 4, 2007

SOCO International in its 2007 interim results report, commented on its activities in West Africa. According to the report, in the Republic of Congo where the company holds a stake in the Marine XI Block, the initial processing of the 1,200 sq km 3D seismic acquisition program has been completed and Pre Stack Depth Migration of the data is underway to allow better imaging of the pre-salt structure. Interpretation is on schedule and SOCO EPC expects to tender for a multi-well drilling program before the end of 2007.  

 

In the DRC the company said that it received Cabinet approval of its Production Sharing Contract on the 800 sq km Nganzi Block, but is waiting on the Presidential Decree for final approval. In August the company conducted a geochemical survey to evaluate the potential of several leads previously identified by an aeromagnetic and gravity survey. The results will be used to help lay out a 2D seismic grid. Seismic acquisition is scheduled to begin later this year.

 

In Angola on its Onshore Cabinda North Block, an Executive Decree outlining SOCO Cabinda Ltd.’s (SOCO Cabinda) 17% participating interest in the PSA for the block became effective in July. 

 

The company said that an airborne gravity and magnetic survey was conducted over the block in June, processing was completed in August, and interpretation of the survey has begun. A contract for the acquisition of a 1,200 km of 2D seismic based on the results of the gravity and magnetic survey, has been awarded to Grant Geophysical and acquisition is expected to begin this month.


« GO BACK