Cobalt oil group discovers large oil reserve in Angola

2 December 2013

US group Cobalt International Energy said Sunday that during a test on the Lontra oil well, in block 20 in the Angolan sea, “produced a stable flow of 2,500 barrels of condensates and 39, million cubic feet of gas per day.”

Noting that the results of this test had confirmed the discovery of this well in Angola’s pre-salt layer that was announced on 30 October, the group added that the recorded flows had been significantly limited by the capacity of the SSV Catarina drilling rig.

“We and our partners Sonangol P&P and BP are very happy with the results of this discovery at the Lontra #1 well,” said Joseph H. Bryant, the group’s chief executive in the statement issued Sunday on the company’s website.

Noting that more wells needed to be drilled in order to have a real idea of the size of the Lontra oil field, Bryant said it was clear that the discovery was world class.

Cobalt International Energy is the oil block’s operator with a 40 percent stake and its partners, with 30 percent each, are Sonangol P&P and BP. (macauhub)