CAPITAL: ABIDJAN

MONETARY UNIT: CFA FRANC

REFINING CAPACITY: 69,000 B/CD

PRODUCTION: 10,000 B/D

OIL/CONDENSATE RESERVES:

100 MILLION BBL

NATURAL GAS RESERVES: 1 TCF

The Ivory Coast government saw the petroleum industry as a key to diversifying the country?s economy from its traditional concentration on agriculture, Energy Minister Mohamed Lamine Fadika said.

The government planned to use gas to fuel new industries, boost refining capacity, and develop pipeline and trading operations to add value to its production, he said.

Various government figures had aired plans to establish a regional petroleum products trading hub for the Gulf of Guinea states at the Abidjan refinery. The plant, as one spokesman put it, would Obecome the Rotterdam of West Africa.O

Petroci planned to boost the plant?s capacity to 90,000 b/d from 70,000 b/d in the short term and to 180,000 b/d by 2010.

A group led by Mondoil Cote d?Ivoire LLC and Saur Energie acquired Apache Corp.?s Ivory Coast assets for $45 million.

Apache operated Foxtrot offshore field, in which it held a 24% interest. Apache was to continue to provide technical services through its interest in Mondoil Corp.

Apache had started up the field in first quarter 1999 at an expected 30 MMcfd of gas, with anticipation that flow might rise to at least 50 MMcfd in 2001. A prospective oil column is identified below the Albian zone at 7,695-8,717 ft that produces gas and condensate in the first well. Gas flows to two power plants near Abidjan, liquids to the refinery.

Vanco Energy let a contract for acquisition of 2,000 line km of 2D seismic survey, effectively blanketing the 5,004 sq km Block CI-112 about 30 km off westernmost Ivory Coast. Water is 100-3,000 m deep. Play concepts are an Albian fault block trend and younger fan deposits. Vanco also operates Block CI-109, on which it acquired a complete grid of 2,000 km of 2D seismic. Vanco planned a 3D survey on CI-112.