The Zalophus-1 exploration well hit a payzone in Block 20/11, operated by US company Cobalt. Drilled in 1,830 m of water, the well was drilled to a total depth of 5,210 m. The discovery concerns a 44-m thick column of both gas and condensate. The hydrocarbons discovery made in Block 20/11, in which Sonangol and BP hold 30% stakes each, is estimated at 813 million boe, bringing reserves figures for the block to 313 million barrels of condensate and 79.3 bcm (2.8 tcf) of natural gas.
In its statement on Wednesday, Sonangol said it would be engaging with the various stakeholders for discussions on the development and monetisation of the resources, stressing it would work with the government to establish the necessary legislation and regulatory frameworks.
In August 2015, Cobalt agreed to sell its 40% stake in block 20/11 to Sonangol. The sale is still pending, awaiting government approval. If not finalised before August 22, 2016, it will be cancelled.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.