Maurel et Prom plugs, abandons Tioni-1 well on Kouilou permit |
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Published
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Mon, 26 Feb 2007 08:27
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PARIS (AFX) - French oil company Maurel et Prom said the exploration well Tioni-1 on Kouilou permit, whose main objective was the Vandji sandstone reservoir, was plugged and abandoned last Thursday, Feb 22.Following the sale agreement signed with Eni SpA last week, Maurel et Prom's share in the Kouilou permit in Congo could decrease from 65 to 15 pct, it noted.Maurel et Prom said last Thursday evening it will sell its stake in the operating licenses for the M'Boundi and Kouakouala oil fields in the Republic of Congo to Eni and will cut its stake in the exploration license for the Kouilou area from 65 pct to 15 pct for a cash total of 1.434 bln usd.Andrew.Newby@Thomson.coman/anCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Burren Energy considers preemption rights over Maurel et Prom's Congo assets 