Last checked at 28 Nov 2017 11:20
28 November 2017
SOCO International plc
("SOCO" or the "Company")
Increased interest in the onshore Cabinda North Block
Following on from Eni's announcement on 27 November 2017 of their appointment as Operator of the Cabinda North Block, SOCO is pleased to announce that its 80% owned subsidiary, SOCO Cabinda Limited, has agreed to increase its non-operating working interest in the Cabinda North Block Production Sharing Agreement from 17% to 22%.
The Cabinda North Block is located onshore the Angolan enclave of Cabinda. SOCO's increased interest and the change of operatorship follows a reassignment of interests amongst the block partners.
Final details and timing of the formal governmental Executive Decree to enact the change of operator and the reassignment of interests are expected shortly.
ENQUIRIES:
SOCO International plc
Antony Maris, Chief Operating Officer
Tel: 020 7747 2000
Camarco
Billy Clegg
Georgia Edmonds
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 Exploration and Production SA holds a 40.39% interest and is designated Operator of each of the Lidongo, Viodo, Lideka and Loubana permit areas offshore the Republic of Congo (Brazzaville).