Lukoil join the deepwater offshore project in the Republic of Sierra Leone
LUKOIL Overseas (a wholly-owned subsidiary of LUKOIL) agreed about acquiring of private company Oranto Petroleum a share of 49% in the Petroleum Agreement for offshore deepwater block SL-5-11 in the Republic of Sierra-Leone.
Exploration program obligations under the Petroleum Agreement include drilling of one exploration well till 2013.
Block SL-5-11 with area of 4,022 square kilometers is located in the shelf and deepwater part of Sierra-Leone territorial waters. Water depth within the block ranges from 100 to3,300 meters.
2D and 3D seismic was acquired on the block resulting in identification of a number of prospects with material oil resources (preliminary forecast). From the geological point of view, the block belongs to Sierra-Leone-Liberia Basin where a number of sizable oil fields were discovered over the past two years which confirmed the prospectivity of the basin.
LUKOIL Overseas
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