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Another discovery off Angola

July 25, 2005, 12:30 CEST

More oil has been found in block 31 in the deepwater part of the Angolan continental shelf, where Statoil has a 13.33 per cent interest.

Reported by operator BP and Angolan state oil company Sonangol, the discovery is the seventh on this acreage and has been named Juno.

The well was drilled to a total depth of 3,200 metres in 1,600 metres of water, 165 kilometres from land. A production test flowed at a rate of 2,676 barrels per day.

The earlier discoveries in block 31, which was awarded in 1999, are Plutão, Saturno, Marte, Venus, Palas and Ceres.

In addition to BP with 26.67 per cent and Sonangol with 20 per cent, Statoil’s partners in this licence are ExxonMobil 25 per cent, Marathon Petroleum 10 per cent and Total five per cent.

Statoil is also involved in blocks 15 and 17 off Angola, again with 13.33 per cent holdings in both.