Total said Tuesday that it is expanding its significant presence in Angola through the successful application for three new exploration blocks in the deepwater Kwanza Basin. Following an international licensing round, Total signed three production sharing agreements with state-owned Sonangol on December 20, 2011. Total will operate Blocks 40 and 25 with respectively a 50% and a 35% interest and be a partner with a 15% interest in Block 39. Sonangol is the concession holder for these acreages.
On Block 40, Total (operator) will be partnering with Sonangol P&P (30%) and Statoil (20%). The block is located in water depths ranging from 1,500 to 3,400 metres and covers an area of around 7,604 square kilometres.
As operator of Block 25, Total will be partnering with Sonangol P&P (30%), Statoil (20%) and BP (15%). This block is located in water depths ranging from 700 to 2,200 metres and covers an area of around 4,842 square kilometres.
On Block 39, with a 15% interest, Total will be partnering with Statoil (55%, operator) and Sonangol P&P (30%). The block is located in water depths ranging from 1,330 to 3,400 metres and covers an area of around 7,831 square kilometres.
All three blocks are located in Angola’s largely under-explored deepwater Kwanza Basin. The main objective is to explore for pre-salt deposits in these blocks, which share promising geological similarities with the prolific Santos and Campos Basins in Brazil, where in recent years, major discoveries have been made in this type of play.
Over an initial exploration period of five years, around 14,000 square kilometres of 3D seismic will be acquired and five exploration wells drilled with presalt objectives in aggregate over the three blocks.
Marc Blaizot, Senior Vice President, Exploration at Total Exploration & Production stated: “We are very pleased with the licensing round awards. They reflect Total’s commitment to continuing as a key investor and oil operator in Angola, as well as playing a leading role in exploring this promising deepwater basin. We will be leveraging our proved deep offshore expertise and know-how. These awards demonstrate and reinforce Total’s bold exploration strategy.”