Inpex to take stake in Congo Block

INPEX HAS BEEN granted approval by the authority of the Government of the Democratic Republic of Congo to acquire a 20 per cent participating interest of the Nganzi Block with SOCO Exploration & Production DRC, a subsidiary of SOCO International plc.

The Nganzi Block is located onshore western part of the DR Congo, which covers an area of 800 sq km. In the Block, SOCO will continue to operate with a 65 per cent participating interest, while the National Oil Company, La Congolaise des Hydrocarbures holds a 15 per cent participating interest.

Interpretation of the 360 km of the 2D seismic is very encouraging with several large structures identified, three of which will be tested with the initial 2010 drilling program. The Nganga well, the first well was spudded on July 15.

In the DR Congo, Inpex has a 32.28 per cent interest in the Offshore DR Congo Block, which has been producing crude oil since 1975. The participation in the Nganzi Block will further expand the Inpex's exploration and development activities in the DR Congo.

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