Petroleum Africa
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Tuesday, February 12, 2019
Sonangol and BP entered into an agreement to progress to a final investment decision (FID) on the development of the Platina field in deepwater Block 18, offshore Angola. Platina will be BP’s first new operated development in Angola since the PSVM project in Block 31 began production in 2013. It would be the second phase of development in Block 18 – the Greater Plutonio project started up in 2007.
BP and Sonagol also agreed to extend the production license for the BP-operated Greater Plutonio project on Block 18 to 2032, subject to government approval, and for Sonangol to take an 8% equity interest in the block.
According to Sonangol, the signing of the agreements is proof positive of the work being done by the state-run firm and the government to generate more investment in the oil and gas industry.
BP is working on another development offshore Angola on Block 31, the development of the Palas-Astraea-Juno fields. The company is in talks to line up a FPSO for the development.
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