BP Makes 6th Ultra-Deepwater Discovery in Block 31

Sonangol and BP report that the Ceres-1 oil discovery in ultra-deepwater Block 31, offshore Angola is the sixth successful discovery BP has drilled in Block 31, following Plutao, Saturno, Marte, Venus and Palas. It is located 32 kilometers south east of the Plutao discovery, and 31 kilometers north east of the Palas discovery announced earlier in 2005.

Ceres-1 was drilled by the semi-submersible drilling rig, the Leiv Eiriksson, in 1,633 meters water depth some 360 kilometers north west of Luanda, Angola and reached a total depth 4,334 meters below sea level. The well tested at a maximum rate of 5,844 barrels of oil a day through a 44/64 inch choke. Further work is ongoing to evaluate the size of the discovery.

Sonangol is the concessionaire of Block 31. BP as Operator holds 26.67 per cent. Partners in Block 31 are Esso Exploration and Production Angola (Block 31) Limited. (25 percent), Sonangol E.P. (20 percent), Statoil Angola A.S. (13.33 percent), Marathon Petroleum Angola, Limited (10 percent) and TEPA (BLOCK 31), Limited, (a subsidiary of the Total Group) with 5 percent.

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