Genel Energy Jv to Drill Exploration Well in Ci-508, Offshore Cote D'ivoire, in Late 2015

Source Press Release
Company Genel Energy Plc 
Tags Exploration, Upstream Activities
Date October 20, 2015

Announcing a trading and operations update, Genel Energy said that drilling on the Vitol-operated CI-508 licence (Genel 24% working interest) offshore Côte d'Ivoire is set to commence towards the end of 2015 on the Aigle Prospect.

The well, which is targeting significant oil prospectivity in stacked Cretaceous reservoirs, will take approx. 50 days to complete at an estimated future cost of $10 million net to Genel, which will largely be payable in 2016.

Vitol, on behalf of its partners, Genel and Petroci, last year engaged FirstEnergy Capital as exlusive adviser for the farm-out of an interest in licence CI-508. For details, visit FirstEnergy Capital or see energy-pedia opportunities, our premium subscriber service which currently has details of over 1500 upstream opportunites worldwide.

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