30th Apr 2015 13:05
LONDON (Alliance News) - BP PLC Thursday said oil production has begun at the Kizomba satellite fields offshore Angola after they were tied into existing infrastructure.
The production start is part of the phase two development at Block 15 offshore Angola, which is a joint venture between BP with a 26.67% stake, ExxonMobil with a 40% holding, ENI with a 20% stake and Statoil with the remaining balance. ExxonMobil is the operator of the license.
The Kizomba Satellite fields phase two development is a subsea infrastructure development of the Kakocha, Bavuca and Mondo South fields, tied back to the existing Kizomba B and Mondo Floating Production, Storage and Offloading vessels and is expected to recover around 190 million barrels of oil in total, averaging around 70,000 barrels of oil per day at its peak.
"This is the first of BP?s planned start-ups for 2015 and is another successful project from this prolific block," said Darryl Willis, BP?s regional president in Angola. "We expect to follow this up later in the year with the Greater Plutonio phase three project in neighbouring Block 18 which is operated by BP."
BP shares were up 0.6% at 471.15 pence per share on Thursday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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