16th Oct 2014 06:52
LONDON (Alliance News) - Soco International PLC Thursday said it has completed drilling on the Lidongo X Marine 101 well as its Marine XI block offshore the Republic Of Congo and said it has encountered oil at the prospect.
FTSE 250-listed Soco said its Soco EPC subsidiary, the operator of the Marine XI Block, encountered oil in a clastics sequence in the Djeno sand formation.
It said the drilling results and early log interpretation indicate oil as an approximately 50 metre gross interval.
Soco said analysis of the logs over the hydrocarbon zone indicate petrophysical parameters in line with those published for the Litchendjili field on the adjacent Marine XII block, operated by Italian group Eni SpA.
Soco said that owing to the tight nature of the reservoir, a 20 metre section has been selected for testing, which is expected to take around three weeks.
Soco owns a 40% interest in the well.
By Sam Unsted; [email protected]; @SamUAtAlliance
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