Oil explorer Soco eyes bid targets over $100 mln

Soco International has told investors it is examining acquisition opportunities in south east Asia, West Africa and Egypt worth in excess of $100 million, suggesting it is targeting more ambitious projects than in the past.

Soco’s vice president for Operations and Production, Anthony Maris, told an investor conference hosted by Morgan Stanley last week that the company was considering buying interests in new fields.

“This transaction size opens up deep water and larger complex opportunities for consideration,” the investment bank said in a research note.

Source: Reuters

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