Sonangol Declares Lontra-1 Commercial: Report
Angolan state Sonangol has declared the commerciality of the Lontra-1 gas find on its offshore block 20/15 in the Kwanza Basin, according to a report by state news agency Angop on April 13. Tests confirmed the presence of gas and condensate initially in place estimated at 2.5 trillion ft3 (70bn m3) and 139mn barrels of condensate, the report added, for a total of 570mn boe,
Angop quoted Sonangol saying that it will “initiate contact with the 20/11 block concession operator for the discussion of possible options” and that the discussion would focus on "the use, development and monetisation of the discovered natural gas resources."
In August 2015 Sonangol signed an agreement to acquire US independent Cobalt's 40% operating interest in blocks 21/09 and 20/11 offshore Angola for $1.75bn – with Cobalt continuing as operator of both for an interim period, though all costs going forward were to be borne by Sonangol.
Cobalt announced on December 1 2013 that the Lontra-1 well, drilled by the Petroserv SSV Catarina rig, was a discovery after it flowed 39mn ft³/day of gas and 2,500 b/d condensate.
Two weeks ago Angop reported that the Angolan parliament had adopted a new law to adjust contract and fiscal terms for marginal oil and gas fields.
Mark Smedley