BP, Shell find more oil in Angolan deep water

Amoco Angola BV, a unit of BP, has two more discoveries on deepwater Block 18 off Angola. The Pride Angola drillship has completed both Cromio and Cobalto finds. They are in 1,200-1,400 m of water about 175 km off the coast.


HOUSTON, Mar. 21 -- Amoco Angola BV, a unit of BP, has two more discoveries on deepwater Block 18 off Angola.

The Pride Angola drillship has completed both Cromio and Cobalto finds. They are in 1,200-1,400 m of water about 175 km off the coast. Well details were not released.

BP said that with these two latest wells, BP and Shell have found oil in all six wells drilled to date in Block 18.

Platina and Plutonio -- drilled in 1999 -- Galio, Paladio, Cromio, and Cobalto -- drilled in 2000 -- all lie within a 20-km radius, collectively forming the Greater Plutonio Prospect.

Angola's state oil company Sonangol awarded the block in 1996 to operator Amoco Angola, which holds 50%, and to Shell Development BV, which holds the remaining 50%.

BP also operates deepwater Block 31 off Angola, in which it has 26.6% equity. ExxonMobil Corp., Sonangol, Statoil, Marathon Oil Co., and TotalFinaElf SA hold interests in the block.

The company also said it has interests in the Sonangol-operated Block 5, the ExxonMobil-operated Block 15, the TotalFinaElf-operated Block 17, and the BHP Pty. Ltd.-operated Block 21.

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