Go-ahead for oil developments in Angola Block 31

Angola's state owned oil company, Sonangol, has given the go-ahead for the development of a series of deepwater oil discoveries in Block 31, offshore Angola.

Angola's state owned oil company, Sonangol, has given the go-ahead for the development of a series of deepwater oil discoveries in Block 31, offshore Angola. StatoilHydro has a 13.33 percent stake in the licence, for which BP is operator.
"The Block 31 developments programme is based on a standardised development concept, which is intended to reduce cycle time, optimise capital and maximise operating efficiency through standardised design, fabrication and commissioning," says John Høines, StatoilHydro's block 31 asset manager.
 
The first project will involve the Plutão, Saturno, Marte and Vênus, (PSVM) fields which lie in the north eastern sector of Block 31, some 400 kilometres north west of Luanda.
 
PSVM is located in a water depth of approximately 2000m. Construction work is expected to start during 2008 with first oil due in 2011 building to a plateau of about 150,000 barrels per day by 2012.
 
PSVM will comprise a converted hull floating, production, storage and offloading vessel (FPSO) with 1,600,000 barrels of storage capacity; 48 production, gas and water injection plus infill wells; 15 manifolds and associated subsea equipment; 170 kilometres of flowlines and 95 kilometres of control umbilicals.
 
Fifteen discoveries have been announced in Block 31 to date. Full development will comprise multiple hubs similar to the first development ( PSVM). The second development will be in the SE area of Block 31 and is in the planning phase.
 
Facts on Block 31:
 
-         Sonangol is the concessionaire of Block 31. BP Exploration (Angola) Limited as operator holds 26.67 percent.
-         The other interest owners in Block 31 are Esso Exploration and Production Angola (Block 31) Limited (25 percent), Sonangol EP (20 percent), Statoil Angola A.S. (13.3 percent), Marathon International Petroleum Angola Block 31 Limited (10 percent) and TEPA (BLOCK 31) LIMITED, (a subsidiary of the Total Group) with 5 percent
-         The Block covers an area of 5,349 square kilometres and lies in water depths of between 1,500 and 2,500 metres
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