Sonangol, BP ink new E&P deals

LUANDA, December 18, 2018 – Sonangol and BP have signed a series of agreements on developments in Block 18 and further exploration in Angola, the companies announced Monday.

The companies agreed to progress to the final investment decision the Platina field development in deepwater Block 18, aiming for first oil in late 2021 or early 2022. The companies also signed a production licence extension to 2032 for the BP-operated Greater Plutonio project in Block 18. The NOC will take an 8% equity interest in the block.

BP and Sonangol signed MoUs to start discussions on additional exploration activities in blocks 18 and 31, as well as to study options in Block 18/15, the Angolan NOC added in a statement.

“The signing of these agreements represents an important milestone in our relationship with Sonangol. It is a major step towards new investments for BP’s business in Angola, extending production from Greater Plutonio and boosting the nation’s oil output,” BP CEO Bob Dudley said in a press statement.

“These agreements are a positive sign of the work being done by Sonangol and the Angolan government to generate more investment in our oil industry and take us a big step closer toward increasing production from Block 18,” Sonangol head Carlos Saturnino said.

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