France represented Vermilion’s first international expansion when we entered the country in 1997. Today, Vermilion is France’s largest oil producer, constituting approximately two-thirds of the domestic oil production. Located in the Aquitaine and Paris Basins, our assets are characterized by large original oil in place (OOIP) conventional fields with high working interests and a low base decline rate – the total OOIP of our five largest fields is greater than 1.7 billion barrels of oil. Since our initial entry into France, we have completed three additional acquisitions, making significant investments in the country for the benefit of our stakeholders.
We maintain two main offices in France, one located near Paris and the other near Bordeaux.
Vermilion has a significant inventory of lower-risk infill drilling, workover and optimization opportunities in France. We have drilled 18 wells in the Champotran field in the Paris Basin from 2013 to 2016 at a 100% success rate.