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Mr Paul McDade — CEO of Tullow Oil
Mr Paul McDade — CEO of Tullow Oil

Tullow gets four licences in Côte d’Ivoire

Tullow Oil plc has acquired 90 per cent stakes in four onshore blocks in Côte d’Ivoire with the remaining 10 per cent going to Petroci, the national oil company of Côte d’Ivoire.

The four blocks - CI 518, CI519, CI301 and CI302 – cover 5,035 square kilometres and are located on the coastline of Côte d’Ivoire mostly to the west of Abidjan.

A statement issued by Tullow last week said the additional blocks would complement the group’s existing exploration portfolio as the blocks were located in a proven petroleum system, indicated by multiple oil seeps and past production from the Eboinda Oil Sands.

“If commercial discoveries are made, the maturity of Côte d’Ivoire’s oil industry suggests a relatively short and low-cost path to production. Tullow intends to initiate work immediately on these licences to allow a full tensor gradiometry (FTG) survey to start in early 2018. This early survey data will be used to assess the potential of the licences and guide future acquisition of seismic data,” the statement said.

The Chief Executive Officer of Tullow, Mr Paul McDade, said, “I am very pleased to have signed the licences for these blocks in Abidjan and look forward to exploring again in Côte d’Ivoire. We have a long history in Côte d’Ivoire having been in the country since 1997 and I am excited about the potential that these blocks, with their proven petroleum system, offers."

The global oil giant has over 20 years experience in Côte d’Ivoire and holds a non-operated position in the Espoir field which produces approximately 4,000 bopd net to Tullow.

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