$10,000,000
Congo Loango II (Madingo)
ENI are seeking to divest the Loango II Block which contains the Loango Marine Field and the Loango Nord Marine Field..
The Loango conventional oil field recovered 77.25% of its total recoverable reserves, with peak production in 1998. The peak production was approximately 29.69 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 2% of the country’s daily output.
Details
Asset Name
: Loango II (Madingo)
Ref
: AF-COG-LII
Continent
: Africa
Country
: Republic of the Congo
Location
: Offshore
Project Phase
: Production
Latitude
: -4.4594
Longitude
: 11.2716
Operator
: ENI
Other partners
: ENI 42%, Total 42%, SNPC 10%
Farmout company
: ENI
Mandated Agent
: None
Work Programmes
: Production
Equity Offered
: 80 - 100%
Deal Status
: Open
FarmoutAngel Valuation
: $10,000,000 - $25,000,000
FarmoutAngel confidence
: Medium, High
Consideration Sought
: $10,000,000