BP ANGOLA OIL DISCOVERY

RNS Number : 0343A

BP PLC

01 October 2009

 



October 1, 2009

BP MAKES NINETEENTH OIL DISCOVERY IN

ULTRA-DEEPWATER BLOCK 31 ANGOLA

Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited today announced the 'Tebe' oil discovery in ultra-deepwater Block 31, offshore Angola. This is the nineteenth discovery made by BP in Block 31 and is located in the southern portion of Block 31 some 350 kilometres northwest of Luanda and about 12 kilometres to the south east of the Hebe discovery.

Tebe was drilled in a water depth of 1752 metres and reached a total depth of 3325 metres below sea level. The well results confirmed the capacity of the reservoir to flow in excess of 5,000 barrels a day under production conditions.

Sonangol is the concessionaire of Block 31. BP Exploration (Angola) Limited as operator holds 26.67 per cent. The other interest owners in Block 31 are Esso Exploration and Production Angola (Block 31) Limited (25 per cent), Sonangol P&P (20 per cent), Statoil Angola A.S. (a subsidiary of StatoilHydro ASA) (13.33 per cent), Marathon International Petroleum Angola Block 31 Limited (10 per cent) and TEPA (BLOCK 31) Limited, (a subsidiary of the Total Group) (5 per cent).

Notes to Editors

BP's involvement with Angola goes back to the mid 1970s. During the 1990s, BP made very substantial investments in Angola's offshore oil and it is now an important part of the company's upstream portfolio. BP has interests in four blocks with operated interests in two and has a 13.6 per cent interest in the Angola LNG project.

Operatorship of Block 31 was awarded to BP Exploration (Angola) Limited in May 1999. The Block covers an area of 5,349 square kilometres and lies in water depths of between 1,500 and 2,500 metres.

BP also has operated interests (BP 50.0 per cent equity) in Block 18 where the Greater Plutonio Project started production on 1st October 2007.

BP has non-operated interests in Block 15, operated by Esso Exploration Angola (Block 15) Limited (BP 26.67 per cent), in Block 17 operated by Total (BP 16.67 per cent) and the ALNG (13.6 per cent).

Further enquiries:

BP Press Office, London: [phone]

Amilcar Costa, BP Angola, Luanda: [phone]

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