Continental Focus, International Reach

Taleveras Picks up More Acreage in Cote d’Ivoire

Wednesday, November 27, 2013

Taleveras, an indigenous firm out of Nigeria, has signed another upstream deal this year giving it a stake in a block offshore Cote d’Ivoire for Block CI-523. The President and CEO of Taleveras Group, Igho Sanomi, who led the firm’s delegation, signed the deal with officials of the Ministry of Energy and Petroleum, Petroci, and Afren.

Prior to this latest deal Taleveras had acquired an interest in Afren’s CI-525, located near the Ghanaian border. The new investment portfolio, which covers Block CI-523, contains the Ibex oil and gas discovery, while CI-525 covers the Kudu and Eland gas discoveries.

In mid-2011 Taleveras signed a MoU with Petroci for collaboration in upstream activities and since then has signed PSCs four offshore exploration blocks. Following the signing of one of these PSCs the company farmed down a stake, bringing in Russian oil giant Lukoil on Block CI-504.  The deal gave Lukoil a 65% stake in the block leaving Taleveras and Petroci with 25% and 10% respectively.