Sonangol discovers more oil in Angola

14 April 2016

Angolan state oil company Sonangol has found oil and natural gas reserves in the basins of the Kwanza and Congo rivers that may total 2.2 billion barrels of oil equivalent, the company said in a statement.

Sonangol said that those reserves, if they are confirmed, are sufficient to produce 2 million barrels of oil per day for three years and, in this period, allow Angola to reach its production target of 2 million barrels per day.

These discoveries were made in the Lira-1 well of block 15/14 in the Lower Congo basin and Lontra 1 of block 20/15 in the Kwanza basin.

“The test results confirm the presence of gas and condensate, and estimated post-drilling resources of 139 million barrels of condensate and 2.5 trillion cubic feet of gas, for a total of 570 million barrels of oil equivalent”, the statement said.

Sonangol also announced the commercial viability of the Katambi-1 well in block 24/11, in the Kwanza basin, whose production will be shared with BP.

The Angolan state company also said Katambi-1 has estimated reserves of 280 million barrels of condensate, 8 billion cubic feet of gas, for a total of 1.7 billion barrels of oil equivalent. (macauhub/AO)