BP makes second ultra-deepwater discovery off Angola

Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP have discovered oil at Saturno ultra-deepwater block 31, offshore Angola. This is the third exploration well BP has drilled in block 31, and the second successful discovery following the Plutao discovery last September.

The semisubmersible Leiv Eiriksson drilled the Saturno-1 in 1,804 m of water, 170 km off the Angolan coast and reached 4,707 m TD.

Further work will be needed to evaluate the full extent of the Saturno discovery. It lies 14 km to the northeast of the Plutão discovery. Saturno flowed at 5,000 b/d during tests.

Sonangol awarded block 31 and its operatorship in 1999 to BP with a 26.7% equity with its partners Esso Exploration and Production Angola Ltd. 25%, Sonangol 20%, Statoil Angola 13.3%, Marathon Petroleum Angola Ltd. 10%, and a member of the Total group of companies EPA Ltd. 5%.

07/28/03