New find in Angola block

May 22, 2007, 14:00 CEST

The 14th oil find in deepwater block 31 off Angola has been made, report operator BP and the Angolan state oil company, Sonangol. Statoil has a 13.33% interest in the block.

The discovery, named Cordelia, is located 3.5 kilometres south-east of the Miranda find, made in April 2006. The well was drilled by the Jack Ryan drilling ship to a total depth of 4,040 metres. The water depth in the area is 2,308 metres.

Cordelia is located some 371 kilometres north-west of the Angolan capital, Luanda.

The well was tested at an operationally restricted flow rate of 2,063 barrels of oil per day through a 20/64 inch choke.

The other finds in the block are Urano, Plutão, Saturno, Marte, Venus, Palas, Ceres, Juno, Astraea, Hebe, Titania, Terra and Miranda.

Sonangol is concessionaire in block 31. BP is operator with a 26.67% interest. Statoil is a partner in the contractor group comprising Esso with a 25% interest, Sonangol (20%), Statoil (13.33%), Marathon (10%) and Total with 5%.

Statoil also has a 13.33% interest in blocks 15 and 17 off Angola as well as a 5% interest in block 15/06.