BP to drill third well on Block 31 off Angola

March 17, 2003
BP Exploration (Angola) Ltd. plans to drill another well, Saturno, on ultradeepwater Block 31 off Angola before the end of March, a source told OGJ.

By OGJ editors

HOUSTON, Mar. 17 -- BP Exploration (Angola) Ltd. plans to drill another well, Saturno, on ultradeepwater Block 31 off Angola before the end of March, a source told OGJ. The Leiv Eriksson semisubmersible rig will spud Saturno after rig maintenance, a safety stand-down, and pre-spud preparations have been completed.

BP discovered Plutão field on Block 31 in third quarter 2002, and Saturno will mark the licensees' third well on the block, which BP operates on behalf of Angola's national oil company Sonangol EP and partners. BP holds 26.67% interest in the block (OGJ Online, Sept. 18, 2002).

Partners are: ExxonMobil Corp. unit Esso Exploration & Production Angola 25%, Sonangol 20%, Statoil Angola AS 13.33%, Marathon Angola Petroleum Ltd. 10%, and TotalFinaElf SA unit EPA Ltd. 5%.

The ultradeepwater area off Angola is thought to be one of the most prolific regions in the world for new, light oil discoveries. Oil in the area has an API gravity of 32-39.5°.

Block 31, which is 248 miles northwest of Luanda and covers an area of 5,349 sq km in 4,922-8,203 ft of water, was awarded to the BP consortium in 1999.