Oil production in Block 3/05, managed by Sonangol, has surged by nearly 30% since the start of the year, climbing from 17,000 to 22,000 barrels per day (bpd).
Ricardo Vandeste, President of the Executive Committee of the Exploration and Production Business Unit (UNEP) at Sonangol, disclosed this information during Sonangol’s “Ngol” program on RNA last Thursday.
Vandeste attributed this achievement to timely interventions geared towards sustained exploration and income generation within the block, implemented over the course of a year.
He emphasized the mature yet potent nature of Block 3/05, which boasts a production history of nearly 40 years and substantial remaining potential.
Highlighting the extensive reserves within the block, Vandeste revealed that the initial oil volume stands at approximately 3.2 billion barrels, with around 1.3 billion barrels already extracted, leaving roughly 1.9 billion barrels untapped—representing more than half of the initial volume.
The revitalization plan for the block unfolds across three phases. The ongoing first phase focuses on light interventions in low-risk, low-investment existing wells.
Subsequent phases will encompass interventions in higher-risk wells, involving more substantial investments, culminating in the drilling of new wells—a phase requiring greater investment compared to the prior stages.
Vandeste emphasized the sequential design of the program to incorporate results from each phase, mitigating risks while optimizing time and costs.
The success of the initial phase, which saw the drilling of 24 wells, exceeded expectations, resulting in a daily oil production gain of 6,200 barrels as opposed to the anticipated 3,400 barrels.
Vandeste hailed this outcome as surpassing projections, effectively mitigating the block’s decline and boosting production by around 30%.
He emphasized the need to sustain this positive momentum, asserting the block’s potential for further production increase and reserve growth despite its four-decade-long production history.
Furthermore, the block’s exploration and production license extension until 2040 by ANPG underscores the promising future prospects.
Vandeste confirmed UNEP’s commitment to a work program aligned with national concessionaire directives and partner collaboration, aiming not only to amplify production but also to enhance production facilities’ integrity and ensure operational safety.
Moreover, recent government decisions, including area unification and improved fiscal terms, aim to drive investments and production growth within the block, as evidenced by Afentra’s entry into its capital and endeavors to augment production through investments.
The contractor group comprises Sonangol (50%), Maurel and Prom Angola (20%), ENI (12%), Somoil (10%), NIS NAFTGAS (4.0%), and Afentra (4.0%).
