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INCREASED INTEREST - ONSHORE CABINDA NORTH BLOCK
INCREASED INTEREST - ONSHORE CABINDA NORTH BLOCK.
About this update from Pharos Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7381X Soco International PLC 28 November 2017 \n\n28 November 2017\nSOCO International plc\n(\"SOCO\" or the \"Company\")\n \n Increased interest in the onshore Cabinda North Block\n \nFollowing on from Eni's announcement on 27 November 2017 of their appointment as Operator of the Cabinda North Block, SOCO is pleased to announce that its 80% owned subsidiary, SOCO Cabinda Limited, has agreed to increase its non-operating working interest in the Cabinda North Block Production Sharing Agreement from 17% to 22%.\n \nThe Cabinda North Block is located onshore the Angolan enclave of Cabinda. SOCO's increased interest and the change of operatorship follows a reassignment of interests amongst the block partners. \n \nFinal details and timing of the formal governmental Executive Decree to enact the change of operator and the reassignment of interests are expected shortly.\n \n \n \nENQUIRIES:\nSOCO International plc\nAntony Maris, Chief Operating Officer\nTel: 020 7747 2000\n \nCamarco\nBilly Clegg\nGeorgia Edmonds\nTel: 020 3757 4980\n \nNOTES TO EDITORS\nSOCO is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.\nSOCO holds a 30.5% working interest in the Te Giac Trang Field of Block 16-1, which is operated by the Hoang Long Joint Operating Company. Block 16-1 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.\nSOCO holds a 25% working interest in the Ca Ngu Vang field of Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Block 9-2 is located in the shallow water Cuu Long Basin, offshore southern Vietnam.\nSOCO holds a 70% interest in and is designated operator of Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, offshore central Vietnam.\nSOCO Exploration and Production SA holds a 40.39% interest and is designated Operator of each of the Lidongo, Viodo, Lideka and Loubana permit areas offshore the Republic of Congo (Brazzaville).\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END&nbs...