SOCO International
 |
|
| Public | |
| Traded as | : |
| Industry | Oil and Gas Exploration |
| Founded | 1997 as Snyder Oil Corporation International |
| Headquarters | London, England, UK |
|
Key people
|
Rui de Sousa, Chairman Ed Story, CEO |
| Revenue | $448.2 million (2014) |
| $152.6 million (2014) | |
| $14.0 million (2014) | |
| Website | www.socointernational.co.uk |
SOCO International plc is an international oil and gas exploration and production company, headquartered in London. It is listed on the .
The company has interests in Vietnam, the Republic of Congo and Angola.
The CEO, Ed Story, focused the company on international gas and oil exploration and production, and the company soon held assets in Mongolia, Tunisia, Yemen and Thailand.
In 2008 the Company agreed to sell its operations in Yemen to Sinochem for $US465 million. In 2010 the company agreed to sell its Thailand assets to UK listed Salamander Energy for $US105m. During 2010, the company is aiming to derisk 600 million barrels of potential net recoverable reserves with a drilling programme focused in Vietnam and the Democratic Republic of Congo.
Vietnam - Cuu Long Basin Blocks 9-2 and 16-1 (Te Giac Trang field)
SOCO has been active in Vietnam since 1996 and currently has two oil and gas producing blocks in the country: Block 9-2 and Block 16-1. SOCO commenced first oil production in August 2015.
Angola - Cabinda Onshore North Block
SOCO has a 17% interest in Cabinda Onshore North Block, in the North Congo Basin, onshore western Cabinda.
Congo Brazzaville - Marine XI
In February 2016 SOCO started drilling the Baobab Marine-1 well in the Mer Profonde Sud block offshore the Republic of Congo. SOCO said the well is "unique" to all of the other wells drilled on or near that block because it is targeting a different type of prospect. The well is targeting gross prospective recoverable resources of 330 million barrels of oil.
Democratic Republic of Congo - Onshore North Congo Basin
SOCO’s operations in eastern DRC commenced in 2013 with a short bathymetry study of Lake Edward and ceased in August 2014, in accordance with its June 2014 public commitment and SOCO is no longer conducting any operations anywhere in DRC.
In 2012 SOCO began to explore for oil in the Virunga National Park, Democratic Republic of the Congo, a UNESCO World Heritage Site which is home to 200 of the remaining 700 seriously endangered mountain gorilla. SOCO said it was not drilling for oil and had no plans to drill. Drilling was strongly opposed and condemned by the World Wide Fund for Nature. In 2010 SOCO received a Presidential decree from the Democratic Republic of Congo (DRC) to explore for hydrocarbons in Block V, in the southern Albertine Graben, onshore eastern DRC. Block V encompassed an area of the Virunga National Park, a World Heritage Site, including a part of Lake Edward. SOCO had advised that Block V was not located close to the Mikeno Section, which is home to the mountain gorillas.
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Wikipedia