Addax Petroleum (fka AXC)

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Tota is very active...ENI and Total Pick Up Acreage in Cote d’Ivoire
Monday, May 27, 2019

E&P firms ENI and Total have picked up acreage in Cote d’Ivoire. Government spokesman Sidi Toure told journalists that the government had awarded four new offshore oil and gas blocks, two went to Total and two to ENI.

“The government adopted a communication regarding talks on four contracts to share production with companies Total and ENI,” Toure told journalists.

Total will operate offshore blocks CI-705 and CI-706, with an investment of roughly $90 million during the exploration period. ENI scored access to blocks CI-501 and CI-504 and will invest about $95 million in the first exploration period.

The country’s state-run oil and gas firm, Petroci Holding, will hold a 10% stake in each of the blocks, Toure said.