New development possible in block 17

October 17, 2006, 11:00 CEST

An appraisal well on the Orquidea field in block 17 on the Angolan continental shelf has strengthened hopes for a combined stand-alone development of the Cravo, Lirio, Orquidea and Violeta fields in the north-western part of block 17, where Statoil has a 13.33% interest.

Drilled in 1,165 metres of water some two kilometres from the discovery well, Orquidea-2 not only confirmed the original reservoir but also proved additional oil in a deeper formation.

“This is very gratifying news,” says Roald Riise, vice president for exploration and production in west Africa.

“The appraisal well has identified a resource potential which could provide the basis for another independent development in block 17.

“Our participation in this acreage is a success story. We’ve secured a stake in a part of the world with an unusually high discovery rate.”

The Orquidea structure lies close to the Lirio, Cravo and Violeta discoveries in the north-west of block 17, and these four deposits could collectively form the basis for a development project.

On stream in 2001, the Girassol oil field in the same licence is being produced from a floating production, storage and offloading vessel (FPSO). It still produces at plateau level pf 250,000 barrels of oil per day.

Nearby Dalia is due to come on stream later this year with a similar solution.

Angolan state oil company Sonangol is the block 17 concessionaire. Total (operator) has a 40% interest in Block 17, alongside partners ExxonMobil (20%), BP (16.67%), Statoil (13.33) and Hydro (10%).

Statoil also has a 13.33% holding in Angolan blocks 15 and 31. Hydrocarbons have been proven in 90% of the wells drilled in these three licences.

Contact person:
Rannveig Sofie Stangeland, public affairs manager, tel +47 48 12 59 78 (mobile)