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Commercial Viability Statement for the Pit Lira-1 Block 15/14

SONANGOL E. P. in accordance with several Presidential Decrees, declares pits in the Lower Congo and Kwanza basins, as commercial gas wells...​

 

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COMMERCIALITY DECLARATION FOR THE LIRA-1 WELL BLOCK 15/14


In accordance with Presidential Decree No. 152/14 of 12 June, SONANGOL E.P. – Sociedade Nacional de Combustíveis de Angola, holder of the Concession for block 15/14-Lira, has declared Lira-1 in block 15/14, in the Lower Congo Basin, a commercial gas well following the drilling and discovery of the reservoir containing natural gas and condensate.

Pursuant to Article 29(3) paragraph two of the block 15/06 Production Sharing Agreement, the National Concessionaire will commence exchanges with the concession operator of block 15/06 to discuss the possible options, with a view to exploiting, developing and monetising the natural gas resources discovered.

At the same time, in coordination with the Ministry of Petroleum, which oversees the petroleum sector, it will continue to work with the executive on the essential task of defining appropriate legislation and the regulatory, contractual, tax and fiscal conditions that will enable continued investment to confirm the potential for exploiting natural gas and monetise the resources discovered within the general framework of the strategy for increasing gas production in our economy.



COMMERCIALITY DECLARATION FOR THE KATAMBI-1 WELL BLOCK 24/11


SONANGOL E.P. – Sociedade Nacional de Combustíveis de Angola, in accordance with Article 29(7) of the Production Sharing Agreement dated 20 December 2011, entered into between the Angolan state oil company, BP Exploration Angola (Kwanza- Benguela) Limited and Sonangol Pesquisa e Produção, S.A., in view of the final report from the concession operator, has declared Katambi-1, in block 24/11, in the Kwanza Basin, a commercial gas well following the drilling and discovery of the reservoir containing natural gas and condensate.

The samples collected, totalling 54 lateral cores, indicate the presence of gas and condensate. 

The post-drilling resources (STOOIP/GIIP) are estimated at 280 million barrels of condensate and 8 trillion cubic feet of gas, giving a total of 1.7 billion barrels of oil equivalent.
Pursuant to Article 29(7) and (8) of the Production Sharing Agreement, the National Concessionaire will soon commence exchanges with the concession operator of block 24/11 to discuss the options, with a view to exploiting, developing and monetising the natural gas resources discovered.

At the same time, in coordination with the Ministry of Petroleum, which oversees the petroleum sector, it will continue to work with the executive on the essential task of defining appropriate legislation and the regulatory, contractual, tax and fiscal conditions that will enable continued investment to confirm the potential for exploiting natural gas and monetise the resources discovered within the general framework of the strategy for increasing gas production in our economy.



COMMERCIALITY DECLARATION FOR THE LONTRA-1 WELL BLOCK 20/15


In accordance with Presidential Decree No. 212/15 of 2 December, SONANGOL E.P. – Sociedade Nacional de Combustíveis de Angola, holder of the Concession for block 20/15, has declared Lontra-1 in block 20/15, in the Kwanza Basin, a commercial gas well following the drilling and discovery of the reservoir containing natural gas and condensate.

The results of the tests confirm the presence of gas and condensate, with post-drilling resources (STOOIP/GIIP) estimated at 139 million barrels of condensate and 2.5 trillion cubic feet of gas, giving a total of 570 million barrels of oil equivalent. 

Pursuant to Article 29(7) and (8) of the block 20/11 Production Sharing Agreement, the National Concessionaire will commence exchanges with the concession operator of block 20/11 to discuss the possible options, with a view to exploiting, developing and monetising the natural gas resources discovered.

At the same time, in coordination with the Ministry of Petroleum, which oversees the petroleum sector, it will continue to work with the executive on the essential task of defining appropriate legislation and the regulatory, contractual, tax and fiscal conditions that will enable continued investment to confirm the potential for exploiting natural gas and monetise the resources discovered within the general framework of the strategy for increasing gas production in our economy.



Communication and Image Department of Sonangol EP, in Luanda, on April 12, 2016.​

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