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Monday, February 6, 2017
Soco International’s application for a 20-year production license (PEX) for the area around the Lidongo well on the ROC’s Marine XI Block was approved in early Q4, according to the company’s operations update.
The PEX commenced in October 2016 and currently discussions with authorities are ongoing to review and improve the commercial terms for the PEX. The Lidongo discovery area commercialization discussions are also ongoing.
A 12-month license extension to March 2017 has allowed Soco time for the interpretation of the 3D seismic data from the remainder of the block, including the Lideka East discovery area, to be completed. Reviews of possible additional PEX applications for the other areas in Marine XI are ongoing.
In Angola on the Central North Block,Soco revealed that discussions are ongoing among the partners and with the authorities to agree to the new partnership, operator, and activities during the license extension period to April 2018.
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