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More deepwater finds off Angola

January 30, 2007, 11:00 CET

The 12th deepwater oil find in block 31 off Angola has been made, according to operator BP and the Angolan national oil company Sonangol. Statoil has a 13.33% stake in the block.

The find has been given the name Terra. The well was drilled from the Jack Ryan drill ship to a total depth of 6,118 metres. The water depth in the area is 2,328 metres. The other finds in the block are named Urano, Plutão, Saturno, Marte, Venus, Palas, Ceres, Juno, Astraea, Hebe and Titania.

Terra is located about 411 kilometres north-west of the Angolan capital Luanda and around 30 kilometres north-west of the Titania find, which was discovered in October this year.

The well is the third in block 31, which was drilled through salt layers to reach the oil-bearing sandstone reservoirs.

Block 31 covers an acreage of 5,349 square kilometres. The water depth is between 1,500 and 2,500 metres.

Well results confirm that the reservoir will have a flow capacity of 5,000 barrels of oil per day.

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

Statoil also has a 13.33% stake in blocks 15 and 17 off Angola. In addition, Statoil has a 5% interest in block 15/06.