HomeInternationalNew investments in Angolan oil exploration

New investments in Angolan oil exploration

Luanda, Angola — 08 February 2013 – Angolan state oil company Sonangol and the Cabinda Gulf Oil Company Limited (Cabgoc) have announced their final decision to make a massive investment in the Mamufeira Sul oil project in block zero, off the Angolan coast.

According to a statement released here, this will be the second stage of development of the Mamufeira field, located 24km from the coast of Cabinda province at a water depth of 60m.
The project includes 50 wells, two wellheads, processing facilities and around 121km of undersea pipelines, reports Macauhub News Agency.

Investment in the project is expected to total US$5.8 billion, and actual operations will start in 2015.  Output is expected to reach a daily maximum of 110,000 barrels of liquid petroleum gas (LPG).

Cabgoc is the operator of block zero with a 39.2% stake and its partners are Sonangol (41%), Total Petroleum Angola Limited (10%) and ENI Angola Production B.V. (9.8%).

Source: Macauhub News Agency. For more information, click here.