Norway-based oil company Statoil has won a contract to operate pre-salt blocks in the Kwanza Basin, offshore Angola.
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Statoil was awarded operated 55% interests in blocks 38 and 39, and will gain 20% partnership stakes in blocks 22, 25 and 40.
Statoil is partnered on block 38 by Sonangol P&P and China Sonangol, which have 30% and 15%, respectively.
On block 39, Sonangol P&P and Total hold 30% and 15%, respectively.
Furthermore, Statoil will gain 20% interests in blocks 22, 25 and 40.
Block 22 is operated by Spain’s Repsol with a 30% interest, and is partnered by Sonangol P&P with a 50% stake.
French oil and gas firm Total is operator of block 25 with 35%, with partners BP (15%) and Sonangol P&P (30%); Total is also operator of block 40 with 50%, where it is partnered by Sonangol P&P (30%).
Sonangol has a carried interest of 30% in all blocks during the exploration phase.
Statoil will have a financial commitment expenditure of $1.4bn, including signature bonuses and a minimum work commitment related to the block awards.
The work programme includes a 3D seismic acquisition covering an area of 18,400km2, and drilling eight exploration wells.
Caption: Statoil gains its first operatorship of pre-salt blocks offshore Angola.
