Sonangol EP Declares Lontra-1 Commercial

Friday, April 15, 2016

Sonangol E.P., a unit of Angola’s state-run oil and gas entity and operator of Block 20/15 offshore the country, has declared the Lontra-1 well on the block a commercial gas discovery. The declaration is in accordance with Presidential Decree No. 212/15 of December 2, 2015.

Results of testing confirm the presence of gas and condensate, with post-drilling resources (STOOIP/GIIP) estimated at 139 million barrels of condensate and 2.5 Tcf of gas, giving a total of 570 million boe.

Sonangol E.P. will now move forward with discussions on possible options to develop and monetize the gas resources discovered.

The company bought the controlling stake and operatorship from US independent Cobalt International Energy.

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