Exploration success continues in Angola

October 23, 2006, 12:00 CEST

The 11th oil find has been made in deepwater block 31 off Angola, according to BP and the Angolan national oil company, Sonangol. Statoil has a 13.33 interest in the block.

The discovery, which has been named Titania, was drilled by the Jack Ryan drill ship to a total depth of 5,339 metres. Water depth in the area is some 2,100 metres.

The other finds in this block are Urano, Plutão, Saturno, Marte, Venus, Palas, Ceres, Juno, Astraea and Hebe.

Titania lies in the western part of the block, 385 kilometres north-west of Angola's capital, Luanda. The discovery lies 23 kilometres north-west of Hebe which was proven in 2005. The well is the second in block 31 to be drilled through salt layers to reach the oil-bearing sandstone reservoirs.

Block 31 covers an area of 5,349 square kilometres and water depths in the area vary between 1,500 and 2,500 metres.

The well was tested with a flow rate of 2,045 barrels of oil per day through a 20/64 inch choke.

Sonangol is licence owner of block 31. BP is operator with 26.67%. Statoil is partner in a contractor group comprising Esso (25%), Sonangol (20%), Statoil (13.33%), Marathon (10%) and Tepa (5%).

Statoil also has a 13.33% interest in block 15 and in block 17 off the coast of Angola.