August 21, 2017

Angola’s state oil firm finds offshore reserves

According to a report by Reuters filed from Luanda, Angola’s state oil company, Sonangol, says it has found oil and gas reserves in the Kwanza basin that could total 2.2 billion barrels of oil equivalent, including in a block it jointly owns with BP.

Block 24, operated by BP, holds an estimated 280 million barrels of condensate and 8 trillion cubic feet of gas, totalling 1.7 billion barrels of oil equivalent, Sonangol says in a statement.

Sonangol says that Block 20, which it operates, is also commercially viable and contains an estimated 139 million barrels of condensate and 2.5 trillion cubic feet of gas, totalling 570 million barrels of oil equivalent.

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.