BP Group has invested over $27 billion in Angola and is still planning to invest more in research and hydrocarbon development in the country over the next decade, BP Angola a subsidiary of the group revealed.

Angola is one of BP’s four best profitable high-margin regions that contributes an extremely high share of its profits and are the focus for growth.

BP Angola is the operator of blocks 18 and 31 in the deep and ultra-deep waters of the Lower Congo Basin. The company also holds interests in blocks 15 and 17 and a stake in the Angola LNG project in Soyo, which produces about 223,000 bopd.

BP Angola operates blocks 19 and 24, and has interests in blocks 20 and 25 in deep water Kwanza basin and Benguela Basin.

Block 18 which is currently developing the project Greater Plutonio, encompasses an area of 5000 km², in water depths from 1200 to 1600 meters. The Greater Plutonio began production in October 2007 and includes five fields; gallium, chromium, cobalt, palladium and Plutonium. It is presently producing an average of 147,300 bpd and provides associated gas to the Angola LNG plant in Soyo.

However, in block 31, BP Angola made a number of discoveries in the deep waters, which brought about the development of the Plutão, Saturno, Vénus and Marte (PSVM) fields. These fields’ operation reached its peak production rate of 150,000 bpd, less than one year after starting production in December 2012, Macauhub news reports.

The fields produce hydrocarbons through large floating production storage and offloading vessel (FPSO), which has a storage capacity of 1.6 million bbls.

Anita Fatunji