BP confirmed today the start of oil production from the Kizomba Satellites phase 2 development in Block 15, offshore Angola. Operated by ExxonMobil, the deepwater project is expected to produce around 70,000 barrels of oil per day at peak.
“This is the first of BP’s planned start-ups for 2015 and is another successful project from this prolific block,” said Darryl Willis, BP’s regional president, Angola. “We expect to follow this up later in the year with the Greater Plutonio phase 3 project in neighbouring Block 18 which is operated by BP.”
Kizomba Satellites phase 2 is a subsea infrastructure development of the Kakocha, Bavuca and Mondo South fields, tied back to the existing Kizomba B and Mondo Floating Production, Storage and Offloading (FPSO) vessels and is expected to recover around 190 million barrels of oil.
The project scope includes subsea wells, FPSO topside modifications and installation of flowlines and subsea equipment. The development is located approximately 150 kilometres off the coast of Angola in water depths of around 1350 metres.
Partners in Block 15 are BP (26.67%); ExxonMobil (operator, 40%); ENI (20%); Statoil (13.33%). Sonangol is the concessionaire.
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This press release contains certain forward-looking statements concerning BP's expectations regarding the Kizomba Satellite Fields in Block 15, offshore Angola, including expectations regarding the estimated levels of daily production and total recoverable reserves; plans for additional projects in 2015 in offshore Angola and the planned start-up of Block 18 Greater Plutonio phase 3 project in 2015. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under "Risk factors" in our Annual Report and Form 20-F 2014. This press release contains references to non-proved resources and production outlooks based on non-proved resources that the SEC's rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.