Australia’s Roc Oil approves 2007 work program for Angolan oil venture

19 January 2007

Sydney, Australia, 19 Jan – Roc Oil has announced that the work program for 2007 in the Cabinda Sul joint venture includes three exploratory land wells and a US$ 54 million budget, some US$ 43 million of which will fund drilling operations.

In a statement published on the company’s website Thursday, Roc Oil said an operation with two rigs is being organized to begin drilling at the end of Angola’s rainy season, which usually occurs from March to April.

The end of the rainy season will also determine dates for construction of drilling rigs and building of access roads.

Roc Oil holds a 60 percent shareholding in the Cabinda Sul undertaking, with Force Petroleum and Sonangol each holding 20 percent states. (macauhub)