Marathon Oil Corporation reports that its subsidiary, Marathon International Petroleum Angola Block 32 Limited, has participated in the fourth deepwater discovery on Block 32 offshore Angola. The Mostarda-1 discovery well, along with the nearby Gindungo, Canela and Gengibre discoveries moves Block 32 closer towards establishing a commercial development. This discovery is the thirteenth discovery in Marathon's deepwater Angola exploration program on Blocks 31 and 32 in which the Company holds a 10 percent and 30 percent interest, respectively.
The Mostarda-1 discovery well is located approximately 150 kilometers (94 miles) off the Angolan coast in 1,758 meters (5,768 feet) of water. The well was drilled to a total depth of 4,495 meters (14,748 feet) and successfully tested at a rate of 5,347 barrels oil per day of 30 degree API fluid, from one of the reservoir intervals encountered. Mostarda is located 14 kilometers (approximately nine miles) south of the previously announced Canela discovery, and 15 kilometers (approximately nine miles) Southeast of the Gengibre discovery.
"Marathon is encouraged with the results of the Mostarda well and we will undertake additional studies to determine if this discovery can be developed with the nearby Gindungo, Canela and Gengibre pools," said Philip Behrman, Marathon senior vice president of Worldwide Exploration.
The concessionaire of Block 32 is Sonangol, Angola's state-owned oil company. TOTAL holds a 30 percent interest in the block and serves as operator, with the remaining interests held by Sonangol P&P with 20 percent, Esso Exploration and Production Angola (Block 32) with 15 percent and Petrogal with five percent.