Angola Discovery

RNS Number : 8820F

BP PLC

15 October 2008

 



press release

October 15, 2008

BP MAKES SIXTEENTH OIL DISCOVERY IN

ULTRA DEEPWATER BLOCK 31, ANGOLA

Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited today announced the Dione oil discovery in ultra-deepwater Block 31, offshore Angola. This is the sixteenth discovery made by BP in Block 31 and is located in the southern portion of the block, about 9 kilometres to the south-west of the Juno-1 discovery.

Dione was drilled in a water depth of 1696 metres, some 390 kilometres northwest of Luanda and reached a total depth of 3272 metres below sea level.

The well test results confirmed the capacity of the reservoir to flow in excess of 5,000 barrels a day under production conditions.

Sonangol is the concessionaire of Block 31 and owns 20 per cent equity. BP Exploration (Angola) Limited as operator holds 26.67 per cent. The other interest owners in Block 31 are Esso Exploration and Production Angola (Block 31) Limited (25 per cent); Statoil Angola A.S. a subsidiary of StatoilHydro ASA (13.33 per cent); Marathon International Petroleum Angola Block 31 Limited (10 per cent); and TEPA (BLOCK 31) Limited, a subsidiary of the Total Group (5 per cent).

Note to editors

BP's 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 an important part of the company's upstream portfolio. BP has interests in four blocks with operated interests in two and has a 13.6 per cent interest in the Angola LNG project.

Operatorship of Block 31 was awarded to BP Exploration (Angola) Limited in May 1999. The Block covers an area of 5,349 square kilometres and lies in water depths of between 1,500 and 2,500 metres.

BP also has operated interests (BP 50 per cent equity) in Block 18 where Greater Plutonio started production on 1st October 2007.

BP has non-operated interests in Block 15, operated by Esso Exploration Angola (Block 15) Limited (BP 26.67 per cent equity) and in Block 17 operated by Total (BP 16.67 per cent equity).

Further enquiries:

Robert Wine, BP Press Office, London: [phone]

Amilcar Costa, BP Angola, Luanda: [phone]

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