Angola's State Oil Firm Finds Offshore Reserves


LUANDA, April 14 (Reuters) - Angola's state oil company Sonangol said it has found oil and gas reserves in the Kwanza basin that could total 2.2 billion barrels of oil equivalent, including in a block it jointly owns with BP.

Block 24, operated by BP, holds an estimated 280 million barrels of condensate and 8 trillion cubic feet of gas, totalling 1.7 billion barrels of oil equivalent, Sonangol said in a statement seen by Reuters on Thursday.

Sonangol said that Block 20, which it operates, is also commercially viable and contains an estimated 139 million barrels of condensate and 2.5 trillion cubic feet of gas, totalling 570 million barrels of oil equivalent.

(Writing by Joe Brock; Editing by James Macharia)

Copyright 2017 Thomson Reuters. Click for Restrictions.


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