BP Gears Up for 2019 FID in Angola
Angola’s state Sonangol and BP signed an agreement December 17 to progress to final investment decision (FID) – they hope in 2Q2019 - development of the Platina field in deepwater block 18, offshore Angola. They also agreed to extend the production licence for the BP-operated Greater Plutonio project on block 18 until 2032, subject to government approval, and for Sonangol to take an 8% equity interest in the block. The agreements were signed in Luanda by BP CEO Bob Dudley and Sonangol counterpart Carlos Saturnino.
If FID is taken by mid-2019, BP could become only the second operator to green-light a major new offshore Angola project since 2014, following Total’s FID on Zinia-2 in May 2018.
Platina would be BP’s first new operated development in Angola since the PSVM project in Block 31 began production in 2013. It would be the second phase of development in block 18 – the Greater Plutonio project having started up in 2007.
Discovered in 1999, Platina – in water depth of 1,300 metres - is planned to be developed as a subsea tie-back to the existing Greater Plutonio floating production, storage and offloading vessel (FPSO). The final investment decision for the development is anticipated in 2Q2019 with first oil then expected in late 2021/early 2022. The production licence extension will enable later life production from the Greater Plutonio fields as well as the future output expected from Platina.
Platina gas to flow to Angola LNG
A BP spokesman told NGW that Platina will be a tie back to Greater Plutonio FPSO via existing the Galio manifold. Oil from Platina will flow through the northern production line. Gas will be processed along with other Greater Plutonio gas production, then piped via the Greater Plutonio gas export line to Angola ALNG, although some will be used as fuel and gas lift.
Angola LNG currently sources associated gas from offshore oil operations in blocks 15, 17, 18, 0, 14, 31 and 32. Sonangol and BP respectively have 22.8% and 13.6% equity stakes in Angola LNG, alongside Chevron (36.4%) plus Eni and Total (each 13.6%).
BP and Sonatrach also agreed to progress talks toward further exploration activities in blocks 31 and 18, to enter discussions for blocks 46 and 47, and to explore options in block 18/15.
BP produced an average of 210,000 b/d oil, net, in 2017. It operates block 18 with 50%, while Sonangol Sinopec International Limited (SSI) holds the other 50%; Greater Plutonio averaged gross production of 116,000 b/d last year.