Cobalt International Energy Awarded PSC for Block 20

Source: www.gulfoilandgas.com 12/20/2011, Location: Africa

Cobalt International Energy, Inc. announced that at an official signing ceremony in Luanda, Sonangol and Cobalt executives signed the Production Sharing Contract for Block 20 offshore Angola. Cobalt has been named the operator of Block 20 and has a 40% working interest in the block under this agreement. Other partners in Block 20 include Sonangol Pesquisa e Produç?o, S.A. (30%), BP Exploration Angola (Kwanza Benguela) Limited (20%) and China Sonangol International Holding Limited (10%).

Chairman and Chief Executive Officer Joseph H. Bryant said, “Cobalt is extremely pleased to be awarded operatorship of Block 20, which was the most sought after block by industry in the Pre-salt Bid Round. Together with our current positions in Blocks 9 and 21 and the Diaba Block in Gabon, Cobalt has the pre-eminent Pre-salt portfolio in West Africa.” Bryant added, “The Block 20 partnership has already initiated the acquisition of a 4,100 square km (1,575 square mile) 3D seismic program following Sonangol’s conditional award of Block 20 earlier this year. We are planning our first well in Block 20 in 2013.”

Block 20 is located immediately north of and adjacent to Block 21 and 12 km (7.5 miles) from the Cobalt-operated Cameia-1 well location. Block 20 is Cobalt’s third operated block in the Angolan Pre-salt Kwanza Basin, along with Blocks 21 and 9.

Cobalt is currently evaluating the results of Cameia-1 in Block 21. The results thus far confirm the existence of hydrocarbons and are very encouraging. After Cameia-1 operations are complete, Cobalt will spud its Bicuar-1 well with the Diamond Offshore Ocean Confidence drilling rig. Other partners in Block 21 and Cameia-1 include Sonangol Pesquisa e Producao, S.A. (20%), Nazaki Oil and Gaz, S.A. (30%), and Alper Oil, Limitada (10%).


United Kingdom >>  5/6/2021 - Jersey Oil & Gas (JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased ...
Brazil >>  5/5/2021 - Petro-Victory Energy has updated the market on the acquisition and closure of nine (9) onshore oil concessions in Brazil. This acquisition adds 63,583...

United States >>  5/5/2021 - ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc., has acquired the Red Barn wind project and signed an asset sales agreement with WEC En...
Egypt >>  5/4/2021 - APA Corporation (APA) announced it has reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egypti...

Trinidad and Tobago >>  5/4/2021 - Trinity Exploration & Production plc, the independent E&P company focused on Trinidad and Tobago, is pleased to announce that it has executed a Sale a...
United Kingdom >>  5/4/2021 - Anglo African Oil & Gas plc announces that following suspension of the Company's ordinary shares of 0.1 pence each in the capital of the Company ("Ord...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.