First oil for Saxi & Batuque off Angola

Source: www.gulfoilandgas.com 8/13/2008, Location: Africa

The Saxi and Batuque fields, part of the ExxonMobil operated Kizomba C development project in Block 15 offshore Angola, started production. StatoilHydro holds a 13.33% stake in Block 15. Saxi and Batuque follow on the heels of the Mondo field, which started producing in January this year. Total combined output from the three Kizomba C fields will reach 200,000 barrels per day later this year. Kizomba C is estimated to produce a total of approximately 600 million barrels of oil over the life of the three producing fields.

“Angola is a key building block for StatoilHydro’s international production growth. We’ve been in the country for 17 years and are now partners in nine producing fields, which contribute more than 200,000 barrels of equity production per day to our portfolio. StatoilHydro has delivered more than 30% annual production growth since 2001 and Angola is one of the main contributors to this great result,” says Thore E. Kristiansen, senior vice president and head of INT Southern Atlantic.

“And there’s more to come. We also expect Block 4 to start producing in 2008, and in a few years Block 31 will come on stream.”

The Kizomba C development comprises two floating production, storage and off loading (FPSO) vessels and 36 subsea wells. It is the largest subsea development operated by ExxonMobil world wide.

The twin Kizomba C FPSOs are the fourth and fifth production centres on Block 15, following Xikomba (2003), Kizomba A (2004) and Kizomba B (2005). Block 15 production is expected to total approximately 700,000 barrels a day when the Saxi and Batuque fields reach peak production.

Block 15 is operated by ExxonMobil, with a 40% stake. Angolan state-owned oil company Sonangol is the concessionaire.


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