Summary Information

Operator: BP
Discovery: 2002-2004
Location: Block 31
Production start: 2013
Type: Oil / Gas
Production Volume:150,000 barrels of oil per day
Partners: BP Exploration Angola - 26.67%, Sonangol E.P. - 25%, Sonangol P&P - 20%, Statoil Angola A.S. - 13.33%, Marathon International Petroleum Angola Block 31 Ltd. - 10%, and Sonangol Sinopec International 31 Limited(SSI 31 Ltd) - 5%
Concessionaire: Sonangol E.P.


Description
The block 31 contains over 20 discoveries and includes the Plutao, Saturno,Venus and Marte discoveries (PSVM). PSVM is located in NE of Block 31 in 2,000 meters of water. The hub field development project is named after four fields Plutao, Saturno, Venus and Marte. Recovery of 533 mmbbls (gross) is expected during the license period. The discoveries in the PSVM area began with that of Plutao in September 2002, followed by Saturno following in July 2003, Marte in November 2003 and Venus in June 2004. In July 2008, BP and its co-venturers received approval from Sociedade Nacional de Combustiveis de Angola (Sonangol E.P.) to proceed with the first deepwater project in block 31.

PSVM consists of 48 wells (22 initial producers, 16 water injectors, two gas injectors, and eight later infills) connected to an FPSO through 15 subsea manifolds and associated subsea equipment. Under an engineering, procurement, construction, and installation (EPCI) contract, BP awarded MODEC a frame agreement to supply an FPSO for the ultra-deepwater project. In December 2008, MODEC awarded Jurong Shipyard a $133 million contract to convert the very large crude carrier tanker Bourgogne to an FPSO. The PSVM FPSO is capable of processing 157,000 barrels of oil per day and 245 million cubic feet per day of production gas with a storage capacity of 1.8 million barrels of oil.



History
1999 - BP signed a Production Sharing Agreement (PSA) for Block 31
2002 - BP announced the ‘Plutão' oil discovery
2008 - Sonangol authorised BP and its co-venturers to develop the fields
2008 - Modec awarded FSPO contract
2011 - FPSO completed
2013 - Production Starts at PSVM Project

Contractors
MODEC: frame Agreement for the supply of an FPSO under an EPCI contract
Sembcorp Marine: FPSO conversion
Subsea 7: Project management, engineering and installation services associated with the subsea infrastructure, including umbilicals, pipeline jumpers, flexibles and structures, testing and pre-commissioning services
Aker Solutions: Mooring installation contract for hook-up
Halliburton: Well Completions including Upper and Lower; Completions Equipment and Downhole Flow Control; Drilling and Completions Fluids
First Subsea: Supply of the mooring connectors for the FPSO

Company behavior
In May 1999, BP Exploration (Angola) Ltd. became operator of block 31.
In 2013, ExxonMobil, in its annual report, revealed that it completed the sale of its 25% interest in Block 31, offshore Angola, to Sonangol during 2012.
In 2013, China Petroleum & Chemical Group, announced it had reached an agreement with Marathon Oil to buy the U.S. company’s stake in Block 31, offshore Angola.