New oil well discovered in bloc 31, Angola

24 October 2006

Luanda, Angola, 24 Oct – Angolan state oil company Sonangol and British Petroleum (BP) said Monday they had discovered a new oil well in bloc 31, in the ultra deep water off the Angolan coast.

The new well, which has been named Titania, is located some 385 kilometers to the northeast of Luanda and was drilled to a depth of 5,339 meters below the sea level.

In a statement issued in Luanda, Sonangol and BP said that in the test stages the new well produced 2, 045 barrels of oil per day, but noted that a “much higher” production capacity had been confirmed.

Titania is the 11th oil well discovered in bloc 31 and the second to be drilled through layers of salt in order to reach the oil reserves.

BP is bloc 31’s operator, with 26.67 of its capital and its main partners are Esso (25 percent), Sonangol (20 percent), and Statoil (13.33 percent).

The remaining partners are Marathon, with 10 percent, and Tepa. A subsidiary of the Total Group, which owns the remaining 5 percent of the bloc.

Angola is currently the second-largest oil producer in sub-Saharan Africa, with production of 1.5 million barrels per day. (macauhub)