RAK Petroleum plc holds 33.33 percent of Foxtrot International LDC.
Foxtrot International LDC was founded in 1994 and produces nearly three-quarters of the gas in Côte d'Ivoire from the Foxtrot, Manta, Marlin and Mahi fields. RAK Petroleum plc’s ownership is held through Mondoil Enterprises, LLC, acquired in 2013.
Foxtrot International LDC is a privately held exploration and production company active in Côte d’Ivoire and headquartered in Abidjan, with approximately 150 employees. The Company’s Executive Chairman, Mr. Mossavar-Rahmani, is the Chairman of the Board and co-founder of Foxtrot International LDC.
Foxtrot International LDC holds a 27.27 percent stake in and operates offshore Block CI-27, containing four producing gas fields with associated oil and condensates. In addition to the Foxtrot gas and condensate field, which began production in 1999, the block contains the Mahi gas field developed in 2012, as well as the Marlin oil and gas field and the Manta gas field which began production in 2016, following a four-year, USD 1 billion development campaign covering the installation of a second offshore platform and drilling of additional wells. Gas produced in Block CI-27 is transported via pipeline to fuel power stations in Abidjan pursuant to a gas sale and purchase (take-or-pay) agreement put into force in June 1999 and subsequently amended and extended to 2024. The new platform has doubled Block CI-27’s hydrocarbons treatment capacity and increased the supply and reliability of gas deliveries.
Expanding its footprint in Côte d’Ivoire, Foxtrot International LDC recently acquired a 24 percent operated stake in each of two offshore licenses, Block CI-12 and Block CI-502.