The National Fuels Society of Angola - Sonangol E.P. and Cobalt CIE Angola Limited declare the well Zalophus -1 drilled in Block 20/11, in deep water of the Kwanza Basin, as commercial gas well.
Drilled in a water depth of 1.830 meters, the Zalophus -1 research well reached a final depth of 5.210 meters, having encountered a hydrocarbon column of 44 meters of net pay in the pre-salt section, whose original resources are estimated at 313 Million barrels of condensate (MMBC), 2.8 trillion cubic feet of gas, for a total of 813 million barrels of "oil equivalent" (MMboe).
The National Concessionaire soon initiate contacts with the Block 20/11 Award Operator to discuss the options for the exploitation, development and monetization of natural gas resources and discovered condensates.
At the same time, the National Concessionaire in coordination with the Ministry of Petroleum, which oversees the oil industry, will continue to work with the Executive in the essential definition of appropriate legislation and the regulatory, contractual, tax and fiscal framework to allow the continued investment for the confirmation of natural gas exploration potential and the monetization of discovered resources in the general framework of the strategy for the massification of gas consumption in the Angolan economy.
The National Fuels Society of Angola - Sonangol E.P. is the concessionaire of Block 20/11. Cobalt CIE Angola Limited is the operator and holds a 40% stake, and its partners are Sonangol P&P (30%) and BP (30%).
Communication and Image Department of Sonangol EP, in Luanda, on June 21, 2016.