BP (BP)

BP MAKES SEVENTEENTH OIL DISCOVERY IN THE ULTRA-DEEP

WATER BLOCK 31 ANGOLA

Sonangol, Sociedade Nacional de Combustíveis de Angola and BP Exploration (Angola) Limited today announced the Leda oil discovery in ultra-deepwater Block 31, offshore Angola. This is the seventeenth discovery made by BP in Block 31 and is located in the central northern portion of Block 31, some 415 kilometres north west of Luanda and about 12 kilometres to the south-west of the Marte field.

Leda was drilled in a water depth of 2070 metres and reached a total depth of 5907 metres below sea level. This is the fifth discovery in Block 31 where the exploration well has been drilled through salt to access the oil bearing sandstone reservoir beneath. The well was tested at a rate of 5,040 barrels of oil a day (b/d) through a 36/64ths inch choke.

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).