All of the three blocks are located close to each other on the deepwater continental slope in the Gulf of Guinea. LUKOIL Overseas entered these projects in July, 2006 with a share of 56.66%. Since then 3 deepwater exploration wells were drilled (Dzata and Cheetah prospects) within CTPDW block which discovered a field with hydrocarbon reserves of non-commercial categories. In December 2011 an oil and gas condensate field was discovered in a sandstone pay in a well drilled to the depth of 4,100 meters in water depth of 1,700 meters on CI-401 block (Independance prospect). Current activities include planning of appraisal program for the discovered field, updating of the geological model and preparation of a work program for CI-101 and CTPDW blocks.
Simultaneously with taking over the operatorship, LUKOIL Overseas has also signed an agreement to acquire Vanco Exploration Company (VEX), a service company of Vanco Group.