Svenska has entered into a farm-in agreement with Edison International S.p.A to acquire a 20 per cent working interest position in Block CI-24 in the Ivory Coast. An exploration well on the Virgo prospect is expected to be drilled next year.

Svenska is also pleased to announce it has entered into a farm-in agreement with Perenco Exploration and Production (Congo) Ltd to acquire a 29.75 per cent working interest in Marine Block IV in the Republic of Congo. The work program will entail acquisition of new 3D seismic, reprocessing of existing seismic and acquisition of an aeromagnetic/gravity survey. Completion is subject to Government approval.

“We are pleased to have acquired an interest in these two Blocks to continue, in line with our strategy, to build a balanced and diversified portfolio in West Africa. This is also a demonstration of Svenska’s commitment to a concerted focus on growth from exploration” says Duncan Rushworth Vice President Business Development for Svenska.