Statoil gets stake in deepwater block off Angola

Nov. 15, 2006
Statoil ASA has signed a production-sharing agreement with Angola's Sonangol for a 5% interest in deepwater Bock 15/06 off Angola.

By OGJ editors
HOUSTON, Nov. 15 -- Statoil ASA has signed a production-sharing agreement with Angola's Sonangol for a 5% interest in deepwater Bock 15/06 off Angola.

The 2,984-sq-km block, in 300-1,800 m of water about 100 km from Luanda, is composed of relinquished parts of Block 15. These parts were relinquished in 2002, when the exploration period of that acreage of Block 15 expired.

The work program for Block 15/06 includes 3D seismic surveys and drilling eight wells in the first 5 years of the exploration phase.

Block operator is Eni SPA, which holds a 35% interest.