ChevronTexaco awards contracts for Angola's deepwater block 14

ChevronTexaco's wholly owned subsidiary Cabinda Gulf Oil Co. Ltd. (Cabgoc) has awarded three major contracts for the first phase of the Benguela, Belize, Lobito, and Tomboco (BBLT) development fields in Angola's deepwater block 14.

ChevronTexaco's wholly owned subsidiary Cabinda Gulf Oil Co. Ltd. (Cabgoc) has awarded three major contracts for the first phase of the Benguela, Belize, Lobito, and Tomboco (BBLT) development fields in Angola's deepwater block 14.

BBLT will be the second major development in block 14, which has yielded nine discoveries to date. The Kuito field development, which began production in late 1999 – 30 months after discovery – is Angola's first deepwater producer.

The BBLT development is 50 mi offshore in more than 1,250 ft of water. Plans are to combine the Benguela-Belize integrated drilling and production platform hub facility, supported by a compliant piled tower (CPT), with tieback to the Lobito-Tomboco subsea wells, enabling the phased development of the BBLT reserve base. This is believed to be the industry's first application of CPT structural technology outside the Gulf of Mexico. At 1,280 ft the tower will be among the world's tallest man-made structures.

Execution of the Benguela Belize project, the first phase of the overall BBLT development, is now under way and first production from the Benguela and Belize fields is expected by the end of 2005. The first-phase development also includes the drilling and completion of more than 30 development wells, some of which will employ extended reach technology.

Cabgoc has awarded Daewoo Shipbuilding and Marine Engineering the contract for the engineering, procurement, construction, and installation of the production facilities, CPT, and the gas and oil export pipelines. The company has also awarded KCA/Deutag the contract for the engineering, procurement, and construction of the platform drilling rig and the contract for future operations and maintenance of the rig.

The second phase of the BBLT development involving the Lobito and Tomboco fields is expected to produce via subsea wells tied into the central production hub.

First production from Lobito and Tomboco is expected in early 2007. Combined BBLT annual production is expected to peak at 2,000 b/d by 2009.

Cabgoc operates block 14, which is comprised of Cabinda Gulf Oil Co. Ltd. 31%, Agip Angola Exploration BV 20%, Sonangol Pesquisa and Producao, SARL 20%, TotalFinaElf Exploration and Production, Angola 20%, and Galp-Exploracao e Producao Petrolifera LDA 9%.

06/06/03

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