Statoil awarded operatorships in Angola

Norway's energy producer Statoil has been elected for operatorship and participation in several pre-salt blocks offshore Angola, the national oil company Sonangol has announced.

Statoil has submitted its proposal as part of the pre-salt restricted public bid round organised by Sonangol for access to pre-salt acreage in the Kwanza Basin in Angola. Statoil’s proposal includes operatorship of Blocks 38 and 39 and participation in Blocks 22, 25 and 40 with a comprehensive work program and a signature bonus for each block.

Sonangol has announced the Angolan jury’s proposal of the composition of the different consortia groups for pre-salt blocks awarded in the restricted public bid round.

As the operating company, Statoil was elected by the jury of the bid rounds to participate in the following blocks:

• Block 38, 6298 square kilometres. Statoil operator with a 40% share.
• Block 39, 7800 square kilometres. Statoil operator with a 40% share.

As a non-operating  partner, Statoil was elected by the jury of the bid rounds to participate in the following blocks:

• Block 22, 5180 square kilometres. Statoil with 20 % partnership.
• Block 25, 4825 square kilometres. Statoil with 20 % partnership.
• Block 40, 7588 square kilometres. Statoil with 20 % partnership.

Formal granting of licenses for all blocks is subject to the Angolan Ministry of Petroleum’s decision of any appeal of the jury’s decision, and the successful negotiation of contractual terms including Production Sharing Agreements (PSAs).

Statoil believes that its technical and subsurface competence, experience in international deep water exploration programs and established track record in planning and executing large complex offshore projects will be beneficial in unlocking the exploration potential of the pre-salt play in Angola.

As a major partner in Blocks 4/05, 15, 15/06, 17, 31 and 34, Statoil already participates in ten producing fields and in four new fields under development (Pazflor, PSVM, Kizomba satellites and CLOV). Statoil’s equity production from Angola is currently around 180 000 barrels of oil per day, representing close to 10% of Statoil’s production.

(NRK/Press release)

Thursday, 27 January 2011 07:58