The FINANCIAL -- The Kizomba Satellites Phase 2 project in Block 15 offshore Angola has come on stream, according to Statoil.
Production started several weeks ahead of schedule, and the project came in significantly below the original budget.
“Statoil’s engagement in Angola is the largest oil production outside Norway and the satellite production at Kizomba adds profitable barrels to our 220,000 barrels of oil equivalent per day production from Angola,” says Tove Stuhr Sjøblom, Statoil senior vice president for sub-Saharan Africa.
Through the 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 (FPSO) vessels, total daily production of Block 15 is expected to increase to 350,000 barrels of oil per day.
Recoverable reserves from the Kizomba Satellites Phase 2 fields are estimated at 190 million barrels of oil.
Kizomba Satellite Phase 2 is located approximately 150 kilometres off the coast of Angola in water depths around 1350 metres.
Statoil holds a 13.33% interest in Block 15, which is operated by Esso Angola (with a 40% interest). Other partners include BP (26.67%) and ENI (20%). Sonangol is the concessionaire.