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SOCO Drilling Baobab Marine-1 Well In Search Of 330 Million Barrels

Mon, 8th Feb 2016 07:58


LONDON (Alliance News) - SOCO International PLC Monday said it has started drilling the Baobab Marine-1 well in the Mer Profonde Sud block offshore the Republic of Congo.

SOCO started drilling the well on the RR prospect last Friday and said the well is "unique" to all of the other wells drilled on or near that block because it is targeting a different type of prospect. The well is targeting gross prospective recoverable resources of 330 million barrels of oil.

The well will be drilled to a depth of 3,400 metres and is expected to take between 25 to 35 days to drill in total. SOCO, with a 60% stake in the well, is paying for all of the costs of the well, which is expected to total USD25.0 to USD30.0 million.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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