CI-Energies to develop gas block offshore Côte d’Ivoire

gas-oraAzonto Petroleum is looking for strategic options to preserve shareholder value and reduce operating costs at CI-202 Block. (Image source: Hibr/Flickr)State-owned oil and gas firm CI-Energies has signed a non-binding agreement with an international company to finance, develop and operate CI-202 Block located at Grand Bassam in Côte d’Ivoire

According to CI-Energies, the environmental impact assessment report for Grand Bassam has been completed and submitted to Côte d’Ivoire Environmental Agency (ANDE) on 20 March 2015.

Formal approval from the Ministry of Environment and Sustainable Energy of Côte d’Ivoire is expected by mid-May 2015.

UK-based Azonto Petroleum is a 35 per cent shareholder in Vioco Petroleum, which holds 87 per cent of working interest in the CI-202 Block. Vitol E&P holds the remaining 65 per cent interest in Vioco Petroleum.

However, Azonto Petroleum said that the Grand Bassam project will be delayed as the lump sum price quoted by Italy’s construction firm Rosetti Marino for the construction of the onshore and offshore elements of the project was too high.

As a result of the high price, Vioco Petroleum has decided to re-tender the construction package for the project.

Azonto Petroleum secures EEA offshore Côte d’Ivoire field

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