Lukoil and Oranto petroleum have completed their first well offshore Sierra Leone and found an "oil-saturated reservoir" with its first exploration well offshore Sierra Leone. The well on the Savannah structure on Block SL-5-11 was drilled to more than 4,700 metres in water depths of more than 2,000 metres using semi-submersible Ocean Rig Eirik Raude.
In a statement issued late Monday, the government congratulated Lukoil and said full appraisal of the amount of potential oil would be completed by the end of the year. Lukoil who farmed into the block in mid-2011, has a 49% stake in Block SL-5-11 partnered with Oranto. The block is located in a basin where multiple sizeable oil fields have recently been discovered.
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