Vanco Cote d'Ivoire has announced the drilling of the San Pedro #1 well for the CI-112 exploration permit offshore Cote d'Ivoire. This permit is held under a Production Sharing Contract signed with the Government of Cote d'Ivoire on 20 April 1999. The CI-112 partnership comprises Vanco Cote d'Ivoire Ltd (Operator, 27%); Sinopec Overseas Oil & Gas Ltd (27%); ONGC Videsh Ltd (21.15%); Oil India Ltd (10.35%); and Petroci Holding (14.5%). Vanco is proud to lead the first ever international deepwater joint exploration effort between these leading state-owned oil companies.
On March 25, 2005, Vanco commenced operations on the San Pedro #1 exploratory well located 35 kilometers off the coast of western Cote d'Ivoire in 1,735 meters water depth. The well is being drilled with Transocean's state-of-the-art Deepwater Discovery drillship. The main objective is the Cretaceous Albian sandstone reservoir. The planned total depth is 3,125 meters.