Louro and Cominhos Wells Increase Total Discoveries on Block 32 to Eight
Marathon Oil Corporation's subsidiary, Marathon International Petroleum Angola Block 32 Limited, has participated in two deepwater discoveries on Block 32 offshore Angola. Louro and Cominhos are the Company's seventh and eighth discoveries on Block 32, respectively. To date, Marathon has participated in a total of 23 discoveries in the Company's deepwater exploration program on Blocks 31 and 32 which began in 2001.
The Louro-1 discovery well is located approximately 160 kilometers (103 miles) off the Angolan coast in 1,883 meters (6,178 feet) of water. The well was drilled to a total depth of 4,918 meters (16,136 feet) and encountered high quality oil bearing reservoirs in both the Miocene and Oligocene sections. Louro is located 19 kilometers (12 miles) southwest of the previously announced Gengibre discovery. Due to mechanical reasons, this well was not flow tested.
The Cominhos-1 discovery well is located approximately 155 kilometers (100 miles) off the Angolan coast in 1,594 meters (5,227 feet) of water. The well was drilled to a total depth of 4,496 meters (14,751 feet) and encountered high quality oil bearing reservoirs in the Oligocene section. During the flow-testing operation, the well flowed oil with an API gravity of 32 degrees at a rate of 6,258 barrels per day. Cominhos is located 20 kilometers (12 miles) north of the previously announced Caril discovery.
"The Louro and Cominhos wells mark a continuation of our successful exploratory campaign in deepwater Angola," said Philip G. Behrman, Marathon senior vice president of Worldwide Exploration. "We will be working with our partners to fully analyze well data and integrate results into potential development plans. While appraisal drilling is required on Louro, well results suggest that Louro could be Marathon's most promising deepwater discovery announced to date on Angola Blocks 31 and 32."
The concessionaire of Block 32 is Sonangol, Angola's state-owned oil company. Marathon holds a 30 percent interest in Block 32, along with the operator TOTAL Exploration and Production Angola (Block 32 Ltd) with 30 percent, Sonangol P&P with 20 percent, Esso Exploration and Production Angola (Block 32) with 15 percent and Petrogal with 5 percent.