Angola's state oil firm says finds offshore reserves - CNBC Africa

Angola's state oil firm says finds offshore reserves

Southern Africa

by Reuters 0

Block 24, operated by BP, holds an estimated 280 million barrels of condensate and 8 trillion cubic feet of gas. Photo: Pixabay.

Angola's state oil company Sonangol said it has found oil and gas reserves in the Kwanza basin that could total 2.2 billion barrels of oil equivalent, including in a block it jointly owns with BP.

Block 24, operated by BP, holds an estimated 280 million barrels of condensate and 8 trillion cubic feet of gas, totalling 1.7 billion barrels of oil equivalent, Sonangol said in a statement seen by Reuters on Thursday.

Sonangol said that Block 20, which it operates, is also commercially viable and contains an estimated 139 million barrels of condensate and 2.5 trillion cubic feet of gas, totalling 570 million barrels of oil equivalent.

 

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