African gas producer Gasol has announced that it plans to acquire Energie de Côte d'Ivoire (Enerci) from GDF Suez E&P International for US$116mn
Enerci owns a 12 per cent participating interest in the offshore CI-27 Licence Area under a joint operating agreement, which covers a 350 sq km area off the Côte d'Ivoire basin.
The other partners in the licence area are Foxtrot International, Saur Energie Côte d'Ivoire and Société Nationale d'Opérations Pétrolières de la Côte d'Ivoire (Petroci).
The fields within the CI-27 Licence currently produce 3.8mn standard cubic metres of gas per day and 1,000 bpd, as of November 2013. The gas production under the CI-27 Licence accounted for more than 65 per cent of the country's production in 2012.
Gasol chief operating officer Alan Buxton said, “We are delighted to have reached an agreement to acquire a 12 per cent interest in the CI-27 Licence, which is the largest gas field offshore the Côte d'Ivoire and has an extensive production history.
“The acquisition provides us with an opportunity to bring a revenue-generating, profitable and self-funding asset into the group. This is a key milestone development, as well as a stable, financeable cash flow base from which we can grow.”