British multinational oil and gas company, BP, has announced that production at its Platina deepwater oil field in Block 18, 140km offshore Angola, has come online 44 days ahead of schedule and 25% below the contractor group, Angola’s National Oil, Gas, and Biofuels Agency’s (ANPG) initial budget. The oilfield is expected to contain an estimated 44 million barrels of oil reserves and a peak production output of 30,000 barrels of oil per day (bpd).
The field is tied-back to the Greater Plutonio floating production, storage, and offloading (FPSO) vessel, and forms part of the Greater Plutonio development, which includes the Galio, Cromio, Paladio and Cobalto fields.
BP Angola has indicated that development of the field is expected to increase recoverable resilient reserves by 10 percent, while ANPG considers the project a significant reinforcement of the southern-African country’s oil production capacity.
“With this and other projects, we are gradually meeting the objectives of preventing production decline and increasing production levels with the ongoing bidding of projects,” Acting CEO of ANPG, Belarmino Chitangueleca stated.
“Platina is a great example of the type of project that BP is pursuing – efficiently producing resilient resources from basins we know well and making the very best use of our existing facilities. This way, we create the greatest value for BP, our partners, and Angola,” Senior Vice President of BP Angola, Adriano Bastos said, adding, “The Platina was delivered ahead of schedule and significantly under budget, only made possible through the commitment of ANPG, the contractor group, and the BP team.”
The Platina oil field is expected to support oil production capacity in Angola, with the country’s Ministry of Mineral Resources, Oil, and Gas, previously stating the recent startups have the potential to stabilize the country’s oil production at 1.3 million bpd over the next three years.
“It remains a mark of pride for BP in Angola. After nine years, [we] have first oil from a new project, and this opens up other opportunities. We have other projects online, like the new production center where we will have the first oil around 2026.” Bastos concluded.
Angola, the second-largest oil producer in sub-Saharan Africa, – following Nigeria – and an OPEC member, currently produces approximately 1.3 million bpd and about 17,900 cubic feet of natural gas per day.
Block 18 is operated by BP Angola (46%) along with oil refining, gas, and petrochemical conglomerate, Sinopec (37.72%), and Angolan state oil giant subsidiary, Sonangol P&P (16.28%).