IPC acquires southern Sudan block

Feb 18, 1997 01:00 AM

Feb. 6, 1997 Canada's International Petroleum Corp has it signed an oil exploration and production agreement with the Sudan government for a much-watched concession in the southern part of the country. IPC said the Block 5A concession, which adjoins acreage being developed by an international consortium including Calgary-based Arakis Energy Corp, covered 29,412 square km in an area previously operated by Chevron Corp. The company said it planned to drill its first exploration well on the lands by the end of 1997.
IPC said that a 1,500 km pipeline being planned by the Arakis group -- which also includes the state oil companies of China and Malaysia as well as the Sudan government -- would provide it with an export route for any production on the block. The pipeline is slated to be completed in 1999.

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