Côte d’Ivoire: Vioco aims for Gazelle sanction by year-end

Operator Vioco Petroleum is aiming for final investment decision by year-end on the Gazelle gas field development on Block CI-202. The company submitted a revised field development plan to the government in July 2014, based on supplying gas to a new power plant to be built next to the onshore gas processing facilities. Approval will lead to the granting of an exclusive exploitation area (EEA) over the Gazelle field, allowing for 25 years of exploitation. Vioco is 35% owned by Azonto Petroleum, the former Rialto Energy, and 65% by Vitol, which acquired 65% of the shares in Rialto subsidiary Rialto (Côte d’Ivoire) last year in exchange for providing $50m of loan capital for the Block CI-202 work programme.