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November 25, 2021updated 26 Nov 2021 5:54am

PSVM Complex Conventional Oil Field, Angola

By Carmen

PSVM Complex is a producing conventional oil field located in ultra-deepwater in Angola and is operated by BP Angola. The field is located in block Block 31, Saturno Development Area, Venus Development Area, Plutao Development Area, and Marte Development Area, with water depth of 6,628 feet.

Field participation details

The field is owned by BP, Sonangol EP, China Petrochemical, New Bright International Development and Equinor.


Production from PSVM Complex

The PSVM Complex conventional oil field recovered 69.99% of its total recoverable reserves, with peak production in 2014. The peak production was approximately 166.13 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2036. The field currently accounts for approximately 5% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 155.04 Mmboe, comprised of 155.04 Mmbbl of crude oil & condensate. PSVM Complex conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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