Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP have discovered oil with the 'Palas-1' well in deepwater block 31, offshore Angola.

Palas-1 is the fifth successful discovery BP has drilled in Block 31, following Plutão, Saturno, Marte, and Venus. It is located 62 km to the southeast of the Plutão discovery, in a potentially new development area in the southeast of the block.

Palas-1 was drilled by the semisubmersible drilling rig, theLeiv Eiriksson, in 1,602 m of water some 325 km northwest of Luanda, Angola. It reached a total depth of 3,745 m below sea level. The well was tested at a maximum rate of 5,330 b/d of through a 40/64-in. choke. Further work will be needed to evaluate the full extent of the Palas discovery.

Sonangol is the concessionaire of block 31. BP as operator, holds 26.67%. Partners in block 31 are Esso Exploration and Production Angola (Block 31) Ltd. (25%), Sonangol E.P. (20%), Statoil Angola A.S. (13.33%), Marathon Petroleum Angola, Ltd. (10%), and TEPA (Block 31) Ltd., (a subsidiary of the Total Group) with 5%.

BP's involvement with Angola goes back to the mid 1970s. During the 1990s, BP made substantial investments in Angola's offshore oil and is now an important part of the company's upstream portfolio. BP has interests in four blocks with operatorship of two.

Operatorship of block 31 was awarded to BP Exploration (Angola) Ltd. in May 1999. The Block covers an area of 5,349 sq km and lies in water depths of between 1,500 and 2,500 m. BP also operates block 18, in which it has a 50% equity. In block 18, the Greater Plutonio Project is currently being developed.

BP's non-operated interests are in Block 15, operated by Esso Exploration Angola (block 15) Ltd. (BP 26.67% equity) and block 17 operated by Total (BP 16.67% equity).