Sonangol, the Angolan national oil company and concessionaire, and Elf Exploration Angola, a subsidiary of Elf Aquitaine the operator, announce the eighth new oil discovery in deep offshore Block 17, approximately 200 kilometers northwest of Luanda.
The new well, Camelia 1, was drilled in a water depth of 1,296 meters and is located about six and a half kilometers from Dalia 4 well. It is the ninth exploration well and the eighth consecutive discovery made in Block 17.
Production tests carried out on the new well showed a daily flow rate of 9,000 barrels of API 23°oil.
The Camelia discovery follows those of Girassol (Sunflower), Dalia, Rosa, Lirio (Lily), Tulipa, Orquidea and Cravo (Carnation).
Further geological and engineering studies will be necessary in order to appraise this discovery in its entirety.
Partners on Block 17 with Elf Exploration Angola, the operator, are:
| Elf Exploration Angola (operator) |
35.00% |
| Esso Exploration Angola (Block 17) Ltd |
20.00% |
| BP Exploration Angola Ltd |
16.67% |
| Den Norske Stats Oljeseskap a.s |
13.33% |
| Norsk Hydro ASA |
10.00% |
| TotalFina, Fina Exploration MB, B.V. |
5.00 % |
***
Since October 28, 1999, Totalfina (NYSE : TOT) holds approximately 95% of the share capital of Elf Aquitaine. The combination of the two companies is conditional upon the approval of the European Commission, which is expected mid-February 2000. |
