BP Greater Plutonio Prospect On Track In Angola

abarrelfullabarrelfull wrote on 09 Aug 2012 13:07
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20 March 2001

BP and Shell announced today two further oil discoveries in deepwater Block 18 offshore Angola. Drilled in the vicinity of four existing discoveries, these wells significantly enhance confidence in the reserves discovered to date.

The recent wells, Cromio completed in October 2000, and Cobalto completed in December 2000, were drilled by the deepwater drillship Pride Angola. Water depths in the area are 1200-1400m and the wells lie about 175 kilometres off the coast.

With these two latest wells, BP and Shell have now found oil in all six wells drilled to date in Block 18. Platina and Plutonio, drilled in 1999, Galio, Paladio and the two new wells, drilled in 2000, all lie within a 20 kilometre radius, collectively forming the Greater Plutonio Prospect.

Block 18 was awarded in 1996 by Sonangol (Angola's State Oil Company) to Amoco Angola BV (a wholly-owned subsidiary of BP) with 50 per cent equity, and to Shell Development Angola BV with 50 per cent equity.

Notes:

BPs involvement with Angola goes back to the mid 1970s. During the 1990s, BP made very substantial investments in Angola's offshore oil and it is now one of the company's investments which is growing in importance. BP has interests in six blocks with operatorship of two.

BP operates Block 18 (details above) and Block 31, the latter being awarded to BP in May 1999 and in which BP has 26.6 per cent equity. BP's Block 31 partners are Exxon, Sonangol, Statoil, Marathon and Elf. The Block covers an area of 5,349 square kilometres and lies in water depth of between 1500 and 2500 metres.

BP's non-operated interests are:

  • Block 5 - Operated by Sonangol P&P - BP 27.5% equity
  • Block 15 - Operated by Exxon - BP 26.6% equity
  • Block 17 - Operated by Elf - BP 16.6% equity
  • Block 21 - Operated by BHP - BP 20% equity

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