Rialto back to work in Cote d’Ivoire

Australia’s Rialto Energy resumes operations in Cote d’Ivoire after sanctions were lifted Rialto said it was able to resume work after sanctions were lifted earlier this month, including a European Union imposed sanction against national oil company Petroci.

Petroci is Rialto’s joint venture partner in offshore Block CI-202 and the sanctions prevented the Australian company from travelling to Cote d’Ivoire, affecting its ability to negotiate deals with Petroci and third party contractors.

Rialto said representatives met with the Director General of Hydrocarbons and Petroci in Abidjan last week to discuss the work program for CI-202.

It added the meetings were “extremely constructive” and demonstrated the Cote d’Ivoire was looking to make itself “open for business”.

The company said it was also evaluating rig tenders to cover both the 50m water depths of the Gazelle area and the 90m water depths of the Hippo area.

Rialto is planning to kick off a two to three well drilling campaign during the first quarter of next year with a follow-on drilling programme expected to begin during the third quarter of 2012.

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