Angola awards PSAs for two Kwanza basin deepwater blocks

Angola's state petroleum firm Sonangol awarded deepwater production-sharing agreements (PSAs) to two groups led by, respectively, BHP Petroleum Pty. Ltd. and Texaco Inc. BHP is the operator of Block 21, which covers 5,000 sq km of the Kwanza basin and has water depths ranging from 500 m to 1,700 m. The block lies roughly 60 km off the Angolan coast. BHP said its PSA provides for an initial 4-year exploration phase. The operator began the acquisition of 2,500 sq km of 3D seismic data on the block earlier this year. Block 21 seismic survey results are currently being interpreted. BHP expects to spud the first wildcat on the block in fourth quarter 1999 or early in 2000, depending...

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