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BP and Sinopec start production at Angola’s Block 18 Platina oilfield

New field expected to produce 30,000 barrels daily, drawing on an estimated reserve of 44 million barrels.

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New field expected to produce 30,000 barrels daily, drawing on an estimated reserve of 44 million barrels.

ARTICLE BY

PUBLISHED

UPDATED: 22 Dec 2023, 4:41 am

Oil giant BP and China’s Sinopec have started production at the Platina oilfield, offshore Angola, helping Africa’s second-biggest oil exporter slow a decline in output.

The Platina field will be linked to the existing Greater Plutonio floating production, storage and offloading system in Angola’s Block 18 which commenced production in 2007.

Platina will produce 30,000 barrels of oil per day at its peak and access an estimated 44 million barrels of oil reserves.

BP, which is the field’s main operator, has a 46 per cent stake in Block 18, Sinopec has a 37.72 per cent stake and Angola’s national oil company Sonangol holds the remaining 16.28 per cent.

The project was delivered 44 days ahead of schedule and 25 per cent below the original budget, BP said.

The new production will help Angola slow a decline in output after years of lower investments in the sector, CLBrief reported.

 

UPDATED: 22 Dec 2023, 4:41 am

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