New exploitation permits - offshore Congo (Brazzaville)
SOCO is pleased to announce that SOCO Exploration and Production SA ("SOCO EPC"), the Operator of the Marine XI Block, offshore the Republic of Congo (Brazzaville), has been informed that the applications for a 25-year exploitation permit ("PEX") over each of the Viodo, Lideka and Loubana areas have now been adopted by the Council of Ministers of the Republic of Congo (Brazzaville) and await publication in the Official Gazette. These applications covered areas that were previously part of the shallow water Marine XI permit, which expired at the end of March 2017 following a one-year extension.
These applications are in addition to the Lidongo PEX, also formerly part of Marine XI, which was validated on 26th September 2016 by the Council of Ministers. The Lidongo PEX was published in the Official Gazette N°40 dated 6th October 2016, which is consequently the commencement date of the licence.
SOCO EPC holds a 40.39% interest and is designated Operator of each of the Lidongo, Viodo, Lideka and Loubana permit areas. Project partners in each permit are WNR, SNPC, AOGC and PetroVietnam Exploration and Production.
SOCO will assess the future programme in line with wider strategy and update the market in due course.
SOCO International plc
Antony Maris, Chief Operating Officer
Tel: 020 7747 2000
Tel: 020 3757 4980
NOTES TO EDITORS
SOCO is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.
SOCO holds a 30.5% working interest in the Te Giac Trang Field of Block 16-1, which is operated by the Hoang Long Joint Operating Company. Block 16-1 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.
SOCO holds a 25% working interest in the Ca Ngu Vang field of Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Block 9-2 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.
SOCO holds a 70% interest in and is designated operator of Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, offshore central Vietnam.
SOCO holds a 17% interests in the Production Sharing Agreement for the Cabinda North Block onshore the Angolan enclave of Cabinda.