New Angola oil field may raise Total’s production

June 18, 2014

Total is preparing to drill an exploratory well beneath a layer of salt in waters off Angola this month after successfully starting production at another of the country’s offshore fields on Monday.

The well in Angola’s Kwanza Basin has been earmarked by the explorer as "high impact" as has another scheduled to be drilled at the start of next month off South Africa, said Guy Maurice, head of Africa in the exploration and production division of France’s biggest energy company. The wells are part of a push that began more than three years ago to uncover reserves of hydrocarbons.

"We’re after elephants," he said in the interview, referring to discoveries holding half-a-billion barrels of oil equivalent or more. With the so-called pre-salt Kwanza exploration, Angola is betting its basins mirror the geology off Brazil, where multibillion-barrel finds have been made.

The Angolan field started last week, called Clov, will develop proven and probable reserves of more than 500-million barrels, Total said in a statement.

Copyright, BDlive, 2014.