Project Profile

Value: US$450 million
Location: Negage, Block 14 of the Angolan sea
Start-up Year: 2012
Capacity: 75,000 b/d of oil and 100 million scf/d of gas

The project will see the conversion of an FPSO with 1.5 million barrels storage capacity and able to handle 75,000 b/d of oil and 100 million scf/d of gas. The field will be developed via a floating production, storage and offloading vessel, with the field on-stream in 2007 or 2008. The project is expected to involve the leased FPSO with 13 wells (seven production, one gas injection and five water injection). Negage was the ninth find in the block made in mid-2002. It was drilled in 4,738ft (1,444m) of water, the deepest well in the block, south of the Congo Canyon. The well encountered more than 320ft (100m) of hydrocarbon column – producing more than 8,630 b/d of 33° API oil during a drill stem test.

Operators:

Cabinda Gulf Oil Co.: Operator and 31% interest

Galp Energia SGPS SA: 9% interest

Total: 20% interest

Eni S.p.A.: 20% interest

Sonangol (Sociedade Nacional de Combustiveis de Angola): 20% interest

Contractors:

Alliance Engineering (Wood Group): FEED/Preliminary design & engineering