Angola: Roc Oil strikes oil in onshore Cabinda

10 October 2008

Sydney, Australia, 10 Oct – Australian oil company Roc Oil announced Wednesday in Sydney that it had struck oil in the onshore area of Angola’s Cabinda enclave, adding that new test wells would be needed to establish if the oil was commercially viable.

In a regulatory filing, Roc Oil said that the discovery, made at the “Massambalala-1” well, consisted of a 9.5 metre column of oil.

The company said that a second well was planned, before work is suspended due to the rainy season.

The oil at Massambalala is heavy oil, rather than the more valuable lighter oil that usually characterises oil from West African countries.

At Massambalala, available figures show the potential presence of 170 million barrels of heavy oil.

Work, which began a year ago, has led to the identification of two potential heavy oil reserves (“Massambalala-1” and “Côco-1”), the commercial viability of which will be tested between the end of this year and the beginning of 2009.

Another well, “Sésamo-1” was recently judged to be dry.

This bloc in Cabinda is operated by Roc Oil Cabinda, with a 60 percent share, whilst Forec Petroleum and Angolan state oil company Sonangol each have a 20 percent share. (macauhub)