PA, SOCO Set For Mer Profond Sud Spud


News: Swedish oil company PA Resources has secured government approval to farm out a 60% working interest to UK-based SOCO International in the Mer Profond Sud exploration area offshore the Republic of Congo. Once regulatory approval for entry into the third and final period of the licence is obtained, the partners aim to drill an exploration well by early 2015. Following the farm-out, PA Resources will retain a 25% working interest in the licence, while SNPC will keep its current 15% interest.

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Related sectors of this article: Oil & Gas, Upstream, Exploration
Geography: Congo