Bob Dudley

BP Exploration Angola has announced that oil production has commenced at Block 31 of the PSVM development area in offshore Angola.

Preliminary production begun from the three production wells of the Plutao field, which flowed at about 70,000 barrels of oil per day.

PSVM is expected to flow at an increased plateau rate of 150,000 barrels of oil per day in the coming year, with additional production from the Saturno and Venus fields in 2013 and MARTE in 2014.

BP group chief executive Bob Dudley said PSVM is one of the major subsea developments in the world, as well as one of the company’s important project start-ups for 2012.

"Over the coming decade, we expect Angola, where we have extensive interests from exploration through to production, to be one of the main hubs delivering growth for BP," added Dudley.

"PSVM is expected to flow at an increased plateau rate of 150,000 barrels of oil per day in the coming year."

BP Angola regional president Martyn Morris said PSVM is expected to increase Angola’s production output, which will add additional revenue to the country.

The PSVM development includes four oil fields, namely Plutão, Saturno, Vénus and Marte, which were discovered in 2002-04, at water depths of about 2,000 metres. PSVM is the second BP-operated development in Angola.

PSVM’s production takes place from a converted hull, floating, production, storage and offloading vessel (FPSO), with 1.6 million barrels of storage capacity, which is the first FPSO in Angola’a ultra-deep water.

A total number of 40 production, gas and water injection wells will be connected to the FPSO, by 15 subsea manifolds, along with associated subsea equipment. BP Exploration Angola is the operator of Block 31 with 26.67% interest.

Other partners holding interest in the field include concessionaire Sonangol E.P, which holds 25%, Sonangol P&P with 20%, Statoil Angola with 13.33%, Marathon International Petroleum Angola Block 31 with ten percent and SSI 31 with five percent.


Image: BP group chief executive Bob Dudley. Photo courtesy of Premier.gov.ru.

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