Angola's state oil firm finds offshore reserves | Fin24
 
  • SAA

    The flag carrier has vowed to re-accommodate passengers after it cancelled flights to save cash.

  • Poverty Cycle

    South Africans are struggling to escape poverty due to low levels of social mobility, says the WEF.

  • Slowdown

    The International Monetary Fund has revised SA's growth outlook for 2020 down to just 0.8%.

Loading...

Angola's state oil firm finds offshore reserves

Apr 14 2016 16:55

Luanda - Angola's state oil company Sonangol said it has found oil and gas reserves in the Kwanza basin that could total 2.2 billion barrels of oil equivalent, including in a block it jointly owns with BP.

Block 24, operated by BP, holds an estimated 280 million barrels of condensate and 8 trillion cubic feet of gas, totalling 1.7 billion barrels of oil equivalent, Sonangol said in a statement seen by Reuters on Thursday.

Sonangol said that Block 20, which it operates, is also commercially viable and contains an estimated 139 million barrels of condensate and 2.5 trillion cubic feet of gas, totalling 570 million barrels of oil equivalent.

angola  |  oil
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...