Project Profile
Value: $300 million
Startup Year: unknown
Location: Marine XIV Block, offshore Congo (Brazzaville)
Production: 20,000 bpd (2006 estimates)
Probable Reserves: 45 million barrels of oil.
The Marine XIV Block is located in the Lower Congo Basin and is in shallow water adjacent to the Company’s Marine XI Block and will complement SOCO’s activity both operationally and technically. The Block comprises three discontinuous sections located in water depths ranging up to 115 metres and covers approximately 265 square kilometres. Exploration activity on the Block has resulted in oil discoveries. The Likoufou discovery has tested at around 1,500 b/d and is estimated to contain probable reserves of 45m bbl which would be either launched as a stand-alone project or tied into local infrastructure.
Operators:
SOCO Exploration and Production Congo S.A.: Operator with 29.4% Interest
Lundin Petroleum: 21.55% interest
PA Energy Congo: 12.5% interest
Societe Nationale des Petroles du Congo (SNPC): 15% interest
Raffia Oil SARL (Vitol) : 21.55% interest (Raffia Oil SARL operates as a subsidiary of Vitol Holding B.V.)
Contractor:
Pride International (Now Ensco): Drilling contractor