BP To Explore Angola's Ultra-Deep Waters This Fall

Tuesday, August 07, 2001
Oil major BP intends to be the first to drill in Angola's ultra-deep waters this October, a senior company official said.

"We plan to drill in block 31 towards the end of October," according to a BP general manager and associate president.

BP has a 26.7 percent operating share in the 6,562-ft. (2,000-m) deep block 31, one of three ultra-deep concessions awarded in 1999. It abuts the billion-barrel finds in Exxon-Mobil's block 15.

BP officials said the northern part of block 31 would be the priority and that drilling would likely be at a depth of 5,906 ft. (1,800 m) in tertiary sediment.

"We're looking for similar discoveries that have been found in the lower Congo basin territory," the officials said.

Crushing pressures and cold water combine to push drilling in ultra-deep waters to the edge of industry technology. Robots and automated wells are common.

The company has a commitment to drill four wells in four years. It has invested about one billion dollars in the southwest African country since 1990 and intends to invest $7 billion more over the next decade.

Other stakeholders in block 31 are Exxon-Mobil (25 percent); Angolan state oil company Sonangol (20 percent); Norway's Statoil (13.3 percent); Marathon (10 percent); and France's TotalFinaElf (five percent).

Exxon-Mobil and TotalFinaElf operate the two other ultra-deep blocks 32 and 33. It is estimated that the partners paid more than $900 million in signature bonuses for the three blocks.

While production is scheduled for early 2006, officials said it was too early to estimate the number of barrels per day, although the range could be 50,000 to 250,000.

"We hope to be in detailed engineering by the end of this year," the company said in a statement.

"We're looking for the most efficient development of the six fields."

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Otto Marine's Financial Health on the Mend

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

BOEM gives more time to submit plans OCS

The Bureau of Ocean Energy Management (BOEM) announced today the publication of its Final Rule to extend time requirements for submitting a Site Assessment Plan

Ports

Miami Tugboat Oil Spill: Coast Guard Respond

The US Coast Guard says that its crewmembers are responding to a fuel spill in the vicinity of Government Cut in Miami, following a leak discovered aboard the 95-foot tugboat 'Neptune'.

China Homeport for Latest Giant RCI Cruise Ship

Royal Caribbean International says that its latest cruise ship, 'Quantum of the Seas', will make its home port in Shanghai (Baoshan), China The ship will reposition to China in May 2015,

California Port Seeks Public Feedback on Expansion Plans

The Port of San Diego apprises it is to host separate open house events for the public to provide feedback on its long-range vision and 'Integrated Port Master Plan Update' process.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0813 sec (12 req/sec)