Sonangol Okays Cobalt's Offshore Angola Plans
Tuesday, May 03, 2011
Cobalt International Energy, Inc.
Cobalt International Energy, Inc. on Tuesday announced that Sonangol has approved the drilling plans for the Cobalt-operated Cameia-1 and Bicuar-1 pre-salt exploratory wells on Block 21 offshore Angola.
Given the proximity of the well locations, Cobalt plans to drill the surface hole of Bicuar-1, move the rig to Cameia-1 to drill and evaluate the prospect, then return to Bicuar-1 to drill the well to total depth. Cobalt anticipates drilling operations offshore Angola to commence in the second quarter, in-line with previously disclosed guidance.
Also during the second quarter, Cobalt anticipates the signing and formal award of its 40% working interest and operatorship in Block 20 offshore Angola.
Cobalt is an independent oil exploration and production company focusing on the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon. Cobalt was formed in 2005 and is headquartered in Houston, Texas.
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