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Wednesday, 07 January, 2009, 22:20 GMT | more >>

Kerr-McGee takes a dip in Angola



By Upstream staff 

Kerr-McGee Angola has signed a deepwater agreement with Angola's national petroleum company, Sonangol, to explore for hydrocarbons on block 10 off Angola.

The block is located off the town of Lobito in the Benguela basin. It extends 30 miles off the coastline and covers approximately 1.2 million acres with water depths extending to about 1000 metres.

The deal gives Kerr-McGee a 25% contract interest in Devon Energy-operated block 10 with a 35% contract interest. Sonangol and affiliates retain a 40% contract interest.

"We believe the Benguela basin is an under-explored basin with exciting hydrocarbon potential. Two primary prospects have been identified through an extensive 3D seismic programme covering a majority of the block. Both prospects appear to have the potential to be stand-alone developments if successful," said Kerr-McGee senior vice president responsible for oil and gas exploration and production Dave Hager.

Kerr-McGee expects to drill one to two probes on block 10 this year.


Monday, 23 May, 2005, 15:47 GMT  | last updated: Monday, 23 May, 2005, 16:39 GMT

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