Sonangol and Total subsidiary announce oil discovery in Angola

6 April 2010

Luanda, Angola, 6 Apr – The Sociedade Nacional de Combustíveis de Angola (Sonangol) and Tepa Ltd, a subsidiary of the Total group, have announced the discovery of oil in a deepwater well off the shore of Angola.

The Begonia-01 well is the second research well successfully sunk in bloc 17/06, Angolan news agency Angop reported, citing a Thursday announcement released in Luanda.

The well proved the existence of hydrocarbons in miocenic formations. During the test phase it produced more than 6,000 barrels per day of very good quality grades, the text indicates.

Sonangol is the bloc’s concessionaire with a 30 percent stake, while Total is the operator, also with 30 percent. Other stakeholders include Sonangol Sinopec International (SSI) Seventeen (27.5 percent), Acrep Bloco 17 (5 percent), Falcon Oil Holding Angola (5 percent) and Partex Oil and Gas (Holding) Corporation (2.5 percent).