New discovery in Angola's ultra-deepwater block 32

Sonangol and Total E&P Angola announce a new oil discovery with the fifth exploration well drilled on block 32 in the ultra-deepwaters off Angola.

Offshore staff

(West Africa) - Sonangol and Total E&P Angola announce a new oil discovery with the fifth exploration well drilled on block 32 in the ultra-deepwaters off Angola.

Drilled in a water depth of 1,758 m, the Mostarda-1 well tested at a rate of 5,347 b/d of oil at 30°rees API density from one of the reservoir intervals encountered.

The discovery is located in the eastern part of block 32, approximately 14 km south of Canela-1, and 15 km southeast of Gengibre-1, other discoveries on the same block announced in 2004 and 2005, respectively.

Complementary technical studies are underway to evaluate the potential of the Mostarda-1 discovery and its joint development with the other block 32 discoveries.

Sonangol is the concessionaire of block 32. Total is operator (30%) with partners Marathon Oil Co. (30%), Sonangol EP. (20%), Esso E&P Angola (Overseas) Ltd. (15%), and Petrogal (5%).

02/14/06

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