BP Amoco Awarded Angolan Deep Water Block

abarrelfullabarrelfull wrote on 08 Aug 2012 14:20
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27 May 1999

BP Amoco has today signed a Production Sharing Agreement (PSA) with Angolan state oil company Sonangol for Block 31 in Angola's deep water acreage.

Block 31 covers 5,349 square kilometres of the prolific deep water Lower Congo Basin in water depths from 1,500 to 2,500 metres. BP Amoco plans to initiate exploration activities shortly.

BP Amoco will be operator of Block 31 with a 26.67% interest and the partner group includes Esso Exploration 25%, Sonangol 20%, Statoil 13.33%, Marathon Oil 10% and Elf Aquitaine 5%.

This is the second BP Amoco-operated licence in Angola. BP Amoco has non-operated interests in a further four blocks, including the Girassol field on block 17 which is under development and scheduled to produce first oil in 2001. This will be BP Amoco's first oil production in Angola.

Notes:
BP Amoco has interests in six Angolan offshore licences. The details are as follows:

  • Block 31: See above.
  • Block 17: BP Amoco equity 16.67%, operated by Elf Aquitaine. There have been four discoveries announced on the block
  • Block 15: BP Amoco equity 26.67% , operated by Esso Exploration. There have been four discoveries announced on the block
  • Block 18: BP Amoco-operated, equity 50%. First well completed and well discovery announced by Sonangol on 21 May, 1999
  • Block 5: BP Amoco equity 27.5%. Operated by Sonangol P&P
  • Block 21: BP Amoco equity 20%. Operated by BHP

The predecessor companies to BP Amoco have had business interests in Angola since 1974


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