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kwanza basin onshore concessions

  1. 13 Posts.
    I know we have seen it before.It stills makes entertaining reading.
    Angola (http://www.traveldocs.com/ao/economy.htm)

    By contrast, the rapidly expanding petroleum industry--now producing approximately 1.7 million barrels per day (bpd), behind only Nigeria in Africa--accounts for 51.7% of GNP, 95% of exports, and 80% of government revenues. Production is expected to reach 1.8 million barrels per day by the end of 2007. Angola also produces 40,000 bpd of locally refined oil. Oil production remains largely offshore and has few linkages with other sectors of the economy, though a local content initiative promulgated by the Angolan Government is pressuring oil companies to source from local businesses.

    Block 15, located offshore of the enclave of Cabinda, currently provides 40% of Angola's crude oil production. ExxonMobil, through its subsidiary Esso, is the operator with a 40% share. In 2005, Block 15's second major sub-field, Kizomba B, came online producing at about 250,000 bpd. BP, ENI-Agip, and Statoil are partners in the concession. Chevron operates Block 0, also in offshore Cabinda, which provides one-quarter of Angola's crude oil production. Its partners in Block 0 are Sonangol (the Angolan state oil company), TotalFinaElf, and ENI-Agip. In 2006, Block 0 had a total production of 400,000 bpd, and drilling activity continues at a high level. Chevron also operates Angola's first producing deepwater section, Block 14, which started pumping in January 2000 and produced 105,000 bpd in 2006.

    TotalFinaElf brought the first Kwanza Basin deepwater blocks on-line with production from its Block 17 concession that began in February 2002. Inauguration of the Dalia oilfield in December 2006 combined with the Girassol field already in operation brought Block 17's total production to approximately 500,000 bpd as of July 2007. Exploration is ongoing in ultra-deep water concessions and in deepwater and shallow concessions in the Namibe Basin. BP made the first significant ultra-deepwater find in its Block 31 concession in 2002 and had reached nine significant discoveries by the end of 2005. BP expects to ship its first crude from the Plutonio oilfied in Block 18 in September 2007 and expects Plutonio to average 200,000 bpd in full production. Marathon also drilled a successful well in its Block 32 ultra-deep water concession. TotalFinaElf operates Angola's one refinery (in Luanda) as a joint venture with Sonangol; plans for a second refinery in Lobito with projected production of 200,000 bpd are moving forward. There are plans to increase capacity of the Luanda refinery from 40,000 bpd to 100,000 bpd. Chevron, Sonangol, BP, Total, and Eni are developing a $4-5 billion liquefied natural gas plant at Soyo.

    Exports to Asian countries have grown rapidly in recent years, particularly China. In late 2004, China's state oil company Sinopec bought into Block 18, securing the deal by offering a $2 billion signing bonus to Sonangol, the national oil company. Sinopec has also formed a partnership with Sonangol to operate Block 3/05 (formerly Block 3/80), whose operation was transferred from Total to Sonangol. Sonangol will seek to expand its operation of onshore and shallow water blocks. This includes the northern block of Cabinda's onshore concessions, which since the reduction in hostilities with separatist forces is now open to exploration. Sonangol and Sinopec will also be eyeing future concession rounds, particularly for 23 blocks in the Kwanza Basin onshore area and the relinquished parts of Blocks 15, 17, and 18, currently operated by Exxon, Total, and BP. During 2006, Angola was the leading source country in terms of dollar value for the crude oil China imported, importing U.S. $10.928 billion, up 16.5% year on year.

    Just a reminder the new onshore blocks to be issued are due before end 07
 
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