Petroleum Africa
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Tuesday, December 24, 2013
As 2013 draws to a close everyone will tally up their successes and failures and determine what verbiage will be used to describe it, individuals and companies alike. One company has already determined what kind of year it had, at least on the exploration end, BP. The company said that the year has been its most successful year for new field exploration for almost a decade.
Over 2013 BP participated in 15 completed wildcat exploration wells which have resulted in seven potentially commercial discoveries, giving a new field exploration success rate of over 40%. These successes took place all over the globe, including Africa.
Lamar McKay, chief executive of BP’s Upstream said: “Exploration is at the heart of BP’s upstream strategy. The successes and opportunities now being delivered through our increased exploration activity confirm our confidence in our ability to sustain BP’s resource base. This success is being mirrored in improved operating performance delivery across BP’s upstream business.”
The company participated in the Lontra pre-salt discovery offshore Angola. The well recorded a flow rate of 39 Mmcf/d and 2,500 bpd of condensate, demonstrating the excellent quality of the reservoir. BP holds a 30% stake in the Lontra discovery.
Other discoveries for the company took place in the Gulf of Mexico and Brazil.
Mike Daly, BP’s executive VP exploration commented: “The exploration results that BP has seen in the fourth quarter alone include a new play opener in a frontier basin offshore Brazil, together with discoveries in emerging plays in our production heartlands of Angola and the Gulf of Mexico. We are very pleased that both these frontier and core portfolios are starting to deliver and anticipate leaving the year with nine further wells operational, sustaining our recent momentum into 2014.”
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