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.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.