Sonangol confirms existence of oil in Kwanza basin in Angola

23 December 2011

Luanda, Angola, 23 Dec – The chairman of the board of Angolan state oil company, Sociedade Nacional de Combustíveis de Angola (Sonangol), Manuel Vicente, in Luanda confirmed the existence of oil in block 21, in deep water in the centre-south of the Kwanza Basin, to the southwest of the Angolan capital.

Vicente, who was speaking on the sidelines of the event to sign production sharing contracts for concessions in the Angolan pre-salt layer said that despite exploration work in block 21 (Kwanza Basin) having been underway for some time only last week had the existence of oil been confirmed.

The chairman of Sonangol said, however, it was not yet possible to quantify the reserves, which were found at a depth of between 300 and 1,600 metres.

Geological tests showed the block contained high energy carbonated oil reserves. (macauhub)