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Offshore

Offshore staff

LONDON -- SOCO is poised for growth according to a statement issued June 14. The company had a successful 2006 and is planning what it calls a "very active drilling program" for 2007.

Last year's successes included the company's Vietnam exploration program. Plans are in place for a continuous exploration and appraisal program to be conducted during the remainder of the year. SOCO expects development drilling and infrastructure construction to be underway on block 9-2 Ca Ngu Vang field soon in preparation for first oil in the first half of 2008.

SOCO is also continuing to progress its pre-drill activities in its West African portfolio. A 1,200 sq km 3D seismic acquisition was completed late last year, and processing and interpretation are on schedule to select drilling targets in 3Q 2007. Acquisition of 2D seismic is expected to begin later this year in both the Democratic Republic of Congo (Kinshasa) Nganzi block and the Cabinda North block. SOCO expects the first well on the Marine XI block, offshore Republic of Congo (Brazzaville) will be drilled early next year.

6/15/2007