Congo Republic: MPS well postponed to 2016

Soco International has postponed a planned well on the Mer Profonde Sud (MPS) Block until 2016. Soco completed a farm-in to the block in 2014, taking 60%, while Sweden’s PA Resources retained 25% and Société Nationale des Pétroles du Congo 15%. The Swedish company had been keen to secure a new partner after Murphy Oil pulled out in 2012, arguing that the rest of the block had further exploration potential in a different structural setting and play from the other wells already drilled on the block, targeting reservoirs similar to those producing from fields in Congo and in Angola.