Sonangol and BP announce 12th oil strike in Angola’s bloc 31

30 January 2007

Luanda, Angola, 30 Jan – Angolan state oil company Sonangol and British Petroleum (BP) Monday announced their twelfth oil strike in Angola’s bloc 31, in the ultra deep water off the Angolan coast.

The discovery, which has been named Terra, is located approximately 30 kilometers to the northwest of the Titania discovery, announced in October 2006, and 411 kilometers northeast of Luanda.

Test results for the Terra-1 oil well, drilled to a depth of 2,328 meters, showed that it had a production capacity of 5,000 barrels per day.

This is third discovery in bloc 31 in which the well was drilled through layers of salt.

Sonangol is the concession-holder of bloc 31 and owns 20 percent of it, BP is bloc 31’s operator, with 26.67 of its capital and its partners are Esso (25 percent), Statoil (13.33 percent), Marathon (10 percent) and TEPA, a subsidiary of Total (5 percent).

With current production of 1.4 million barrels per day, Angola is the second-largest oil producer in sub-Saharan Africa, after Nigeria, and sector authorities expect production to reach 2 million barrels per day in 2007, as new wells go into operation.

Angola’s offshore area is divided into 74 blocs, in shallow, deep and ultra deep waters, of which just 30 are currently in operation.

Angola’s oil reserves are estimated at around 12.5 billion barrels. (macauhub)