Statoil fails to find oil off Angola

  • Business & Finance

Genel Energy plc has announced that the Statoil-operated Dilolo-1 exploration well on Block 39 offshore Angola is in the process of being plugged and abandoned after failing to encounter hydrocarbons.

Stena-CarronAlthough further studies are needed in order to fully understand the results, the well has provided a useful calibration for other prospects on Block 39, Genel has explained.

Genel Energy, lead by Tony Hayward, a former CEO of BP, has 7.5% working interest in Block 39. Statoil is the operator (37.5%), and its partners include Total (7.5%), WRG (15%), Ecopetrol (10%), Sonangol P&P (30%).

The Stena Carron drillship will now move to the Statoil-run Block 38 (Genel 7.5% working interest) to spud the Jacaré-1 exploration well.

In July 2014, Statoil divested its shares in blocks 38 and 39 in the Kwanza basin offshore Angola.

September 04, 2014


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