BP Announces Thirteenth Oil Discovery in Ultra-Deep Water Block 31 Angola

Tuesday, April 24, 2007

Angola Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited have announced the Miranda oil discovery in ultra-deepwater Block 31, offshore Angola. Miranda is the thirteenth discovery that BP has drilled in Block 31. The well is located 11 kilometres south of the recently announced Titania discovery.

Miranda was drilled by the Jack Ryan drill ship, in a water depth of 2,436 metres, some 375 kilometres northwest of Luanda and reached a total depth of 5,116 metres TVD below sea level.

The well was tested at a flow rate of 3,822 barrels of oil per day (b/d) through a 48/64ths inch choke.

Sonangol is the concessionaire of Block 31. BP Exploration (Angola) Limited as operator holds 26.67 per cent. The other interest owners in Block 31 are Esso Exploration and Production Angola (Block 31) Limited (25 per cent), Sonangol E.P. (20 per cent), Statoil Angola A.S. (13.33 per cent), Marathon International Petroleum Angola Block 31 Limited (10 per cent) and TEPA (BLOCK 31) LIMITED, (a subsidiary of the Total Group) with 5 per cent.

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