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Tullow buys 90 pct stakes in four onshore blocks in Ivory Coast

Reuters - UK Focus

Oct (Shenzhen: 000069.SZ - news) 12 (Reuters) - Tullow Oil plc (LSE: TLW.L - news) said it on Thursday it had bought 90 percent stakes in four onshore blocks in Ivory Coast while state oil company Petroci holds the remaining 10 percent.

The four blocks cover 5,035 square km and are located on the coast, mostly to the west of Abidjan.

Tullow, which currently holds a non-operated position in the Espoir offshore field in Ivory Coast, said it intends to initiate work immediately on the four new licences to allow surveying to start in early 2018. (Reporting by Arathy S Nair in Bengaluru; editing by Jason Neely)