The company has announced the establishment of a committee for the management of Block III joint venture operations.
This committee consists of members from SacOil, Total, DIG and a representative of the Government of Congo.
According to the company, the work planned and agreed on Block III includes an airborne gravity and magnetic survey over the licence area.
This will form the basis for the next stage of the program that will include the acquisition of a targeted 2D seismic survey, the company said.
The performance of the work programme is subject to first obtaining the relevant ministerial authorisation.
Semliki Energy, a 50% owned subsidiary of SacOil, concluded a farm-in agreement in March 2011 with Total E&P, pursuant to which Total acquired an effective 60% undivided interest in Block III and became the operator.
SacOil holds an effective 12.5% interest in Block III, while the Government of Congo and DIG Oil hold 15% and 12.5% interests, respectively.
