By the OGJ Online Staff
HOUSTON, Jan. 9 -- Ocean Energy Inc. subsidiary Ocean Angola Corp. has acquired a 35% interest in and operatorship of Block 10 off Angola.
Sonangol will hold 20% of the 1.2 million acre block, and the remaining 45% will be awarded to yet-unnamed parties. Block 10 lies in up to 1,500 ft of water in the Benguela subbasin of the Kwanza basin.
"The addition of Block 10 significantly increases our acreage in Angola, a strategic focus area for Ocean's international offshore exploration effort," said James T. Hackett, chairman, president, and CEO of Ocean Energy. "Block 10 is also located adjacent to Block 24, where we are currently conducting exploration activities."
Houston-based Ocean Energy holds 3.6 million gross acres off Angola. It claims to be the only US independent chosen as an operator in that country.
A subsidiary of ExxonMobil Corp. operates Block 24, where Semba-1 well found oil last June (OGJ Online, June 14, 2001).
