BP launches PSVM offshore Angola

Production has begun at the BP-operated PSVM development in block 31 offshore Angola.

Offshore staff

LONDON – Production has begun at the BP-operated PSVM development in block 31 offshore Angola.

The project’s first phase comprises three wells in the Plutao field, where BP expects to ramp up production to 70,000 bo/d. Additional wells will boost PSVM’s output to 150,000 bo/d as wells go on stream in the Saturno and Venus fields this year and in Marte in 2014, the company said.

When complete, PSVM will include a total of 40 production, gas and water injection wells connected to a 1.6 million barrel storage capacity FPSO via 15 subsea manifolds and associated equipment.

PSVM, in the northeast section of block 31, is in water depths of up to 2,000 m (6,562 ft). BP holds 26.67% operated interest in the block, with Sonangol E.P. (25%), Sonangol P&P (20%), Statoil (13.33%), Marathon International Petroleum (10%) and SSI 31 Ltd (5%), with Sonangol as concessionaire.

Some 3.5 million barrels of oil have been produced since PSVM’s December 6, 2012 startup, BP said. A hub development in the southeast sector of block 31 is in the planning stages, the company said.

“PSVM is one of the largest subsea developments in the world and was one of BP’s key project start-ups for 2012 as we grow higher-margin production,” said BP group chief executive Bob Dudley. “Over the coming decade, we expect Angola, where we have extensive interests from exploration through to production, to be one of the main hubs delivering growth for BP.”

01/31/2013

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