Cobalt makes biggest oil find yet in Kwanza basin off Angola

jueves 1 de mayo de 2014 13:39 GYT

* Firms hope Angola's pre-salt finds to match Brazil's

* Well produces over 3,700 bpd, 16.3 mln cm per day

* Find is fifth by Cobalt in Angola

By Shrikesh Laxmidas

LUANDA, May 1 (Reuters) - U.S. firm Cobalt International Energy has discovered significant quantities of oil offshore Angola, state oil firm Sonangol said, calling the find the biggest so far in the promising pre-salt layer in the Kwanza Basin.

Oil drillers hope discoveries under a deep submerged salt crust off Angola known as pre-salt may match the prolific finds beneath similar deposits off Brazil on the other side of the Atlantic in recent years.

Analysts say Angola, Africa's No. 2 oil producer, could double its oil reserves, which are currently estimated at just under 13 billion barrels, if pre-salt drilling proves successful.

Drilling at Cobalt's Orca-1 well in Block 20/11 reached a depth of 3,872 metres and has successfully produced over 3,700 barrels of oil and 16.3 million cubic metres of gas per day, Sonangol said in a statement on Thursday.

"The results ... confirm the importance of the find, which is considered the biggest to date in the Kwanza basin," it added.   Continuación...