ExxonMobil has signed production sharing agreements for two ultra-deepwater blocks offshore the Ivory Coast, according to the country’s oil minister.
The deal is for blocks CI-602 and CI-603, which cover 3,874 and 5,543 sq km respectively and feature water depths varying from 3,000-4,000 m (9,843-13,124 ft). “The maximum exploration period is nine years for each block and, in the case of a commercial discovery, the length of the contract will be 25 years,” Oil and Energy Minister Adama Toungara said, according to a Reuters report.
The country is seeking companies to explore in up to seven ultra-deepwater blocks, holding a promotional event in Houston as recently as October.
Prime Minister Daniel Kablan Duncan said his government was also in negotiations with Norway’s AGR Group for a PSA for the CI-101 and CI-524 blocks and with Total for CI-605.