Sonangol and Cabgoc begin production at Lobito oil field, Angola

27 June 2006

Luanda, Angola, 27 June – Angolan state oil company Sonangol and the Cabinda Gulf Oil company Limited (Cabgoc) said Tuesday that they had started oil production in the Lobito oil field, in deep waters of bloc 14.

The fields of Benguela, Belize, Lobito and Tomboco make up the BBLT development project, one of Chevron’s five largest.

In January, Chevron announced the first production of oil in development phase 1 of BBLT.

The first oil from the Lobito-Tomboco project was obtained on June 7, 2006 before the projected date and within budget.

The BBLT development is locate d80 kilometers of the coast in waters that are 396 meters deep.

In December 2005 the “project of the year” award was given to the Benguela-Belize platform by the Offshore Energy Association.

The Cabinda Gulf Oil Company Limited (31 percent) is the operator of the concession-holding group of bloc 14, which includes the following companies: Sonangol Pesquisa e Produção, sarl (20 percent), Eni Angola Exploration b.v (20 percent), Total EP Angola (20 percent) and Galp-exploração e produção (9 percent). (macauhub)