More Angolan oil

July 30, 1999, 09:45 CEST

Operator Exxon has confirmed a fifth oil find in deepwater block 15 off Angola, in which Statoil has a 13.33 per cent interest.

The latest exploration well has proven reserves in the order of 200 million barrels in the Chocalho (a type of musical instrument) field.

This discovery lies in 1,000-1,500 metres of water, and an integrated development which also covers the existing Hungo, Kissanje, Marimba and Dikanza fields in the same block has been dubbed Kizomba.

Overall recoverable oil reserves in these finds are put at 1.2-1.8 million barrels, and plans call for production to begin in 2003.

"Chocalho lies centrally in the Kizomba area," explains project manager Odd Kjønsøy in the Angola unit of Statoil's International Exploration & Production business area.

"This discovery helps to underpin production plans and will make it easier to find a robust development solution for the area."