BP (BP)

BP MAKES EIGHTEENTH OIL DISCOVERY IN ULTRA-DEEP

WATER BLOCK 31 ANGOLA

Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited today announced the ‘Oberon’ oil discovery in ultra-deepwater Block 31, offshore Angola. This is the eighteenth discovery made by BP in Block 31 and is located in the southern portion of Block 31 about 335 kilometres northwest of Luanda and 4.3 kilometres to the north-east of the Dione discovery.

Oberon-1 was drilled in a water depth of 1624 metres and reached a total depth of 3622 metres TVD below sea level. The well test results confirmed the capacity of the reservoir to flow in excess of 5000 b arrels/d ay under production conditions.

Sonangol is the concessionaire of Block 31. 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), Sonangol P&P (20 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).