StatoilHydro: New Discovery In Block 15/06 Offshore Angola

   DOW JONES NEWSWIRES 
 

StatoilHydro said Thursday Angolan national oil company Sociedade Nacional de Combustiveis de Angola (Sonangol) and ENI have announced an oil discovery in the Cabaca Norte-1 well in Block 15/06 offshore Angola.

 
   MAIN FACTS: 

-"Although StatoilHydro only holds a 5% stake in block 15/06, this is an important venture for us, enabling us to deepen our knowledge of the deep water reservoir in Angola," says Global Exploration Senior Vice President Tim Dodson.

-"So far this year 6 of 11 wells in Angola have encountered hydrocarbons that should contribute to production...I am convinced that this prolific basin will continue to deliver significant volumes to StatoilHydro for many years to come."

-During production tests, the well produced oil at rates in excess of 6,500 barrels of oil per day.

-Eni has a 35% working interest and is the operator of Block 15/06, with Sonangol E&P the concessionaire. Other partners are Sonangol Pesquisa e Producao (15%), SSI Fifteen (20%), Total (15%), Falcon Oil Holding Angola (5%), Petrobras International (5%) and StatoilHydro (5%).

-By Stockholm Bureau, Dow Jones Newswires; [phone]; [e-mail]