First oil for supermajor’s African project

INTERNATIONAL supermajor BP has announced the start of production at its Pluto, Saturn, Venus and Mars (PSVM) project in Angola.
Described as one of the largest subsea developments in the world, the project is expected to produce up to 70,000 barrels of oil per day from three production wells. BP expects that figure to jump to about 150,000bbls per day in the next year, when additional production starts at Saturn and Venus, followed by Mars in 2014.
“Over the coming decade, we expect Angola, where we have extensive interests from exploration through to production, to be one of the main hubs delivering growth for BP,” BP group chief executive Bob Dudley said. PSVM lies within Block 31 and is a joint venture between BP (26.67 per cent), Sonangol EP (25 per cent), Sonangol P&P (20 per cent), Statoil Angola AS (13.33 per cent), Marathon International Petroleum Angola Block 31 (10 per cent) and SSI 31 (5 per cent).
The project’s four oil fields were discovered between 2002 and 2004 in water depths of up to 2000m and BP is expected to extract 533 million barrels of oil (mmboe) during the license period.
Production occurs on a 1.6mmboe-capacity floating production, storage and offloading vessel, the first to be installed in ultra-deep Angolan water.
Forty production, gas and water injection wells will be connected to the platform by 15 subsea manifolds and systems.
BP Angola regional president Martyn Morris said the company hoped the project would benefit Angola.
“The PSVM start-up is the reward for many years of hard work and collaboration both in Angola and overseas to deliver this world-class project,” Mr Morris said. “PSVM is expected to make a significant contribution to Angola´s production output and bring additional revenue to the country.
This is a further step in the confirmation of Angola’s potential as a global energy player.”

Leave a Reply

Your email address will not be published.

* Copy This Password *

* Type Or Paste Password Here *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>