The Board of Sonangol expects to improve the company’s financial situation due to the entry into production, after several years of inactivity, of the oil field “Caco-Gazela Punja 3/05”, located in the Lower Congo Basin, with a production capacity of 2,000 barrels per day.
The project is carried out by Sonangol, as operator, with a 25 percent stake, in a consortium in which China Sonangol Internacional also owns 25 percent, Maurel & Prom, 20 percent, Eni 12 percent, Somoil 10 percent, NIS 4.0 percent and the same percentage for INA (4.0 percent).
The “Caco Gazela” field, whose name comes from the fact that it houses two adjacent geological accumulations, Gazela and Caco, discovered in the 1990s, was operated by the then Elf, currently Total, but it did not enter the development phase because, in the height, other fields emerged with greater commercial potential and larger dimensions.
However, its technical viability was reviewed in 2010 by a new contractor, having assessed the commercial discovery, for approval of its development plan.
The director of block 3/05A, Edmundo Vuete, quoted by the magazine Pacaça, a fortnightly publication by Sonangol, considered “a reason for rejoicing, for great joy”, as it represents an achievement, the achievement of an objective that was to restore and increase the production operated by Sonangol.It also represents a feeling of relief because, of course, there are costs to be recovered and there needed to be oil for the purpose.
“After the intervention carried out, the reopening of the well is definitive. It does not require other interventions, so we hope that it will financially relieve the company and all investors and partners”, he highlighted.
The well remains under observation, with the occurrence of the necessary tests.
“Studies point to a production of almost two thousand barrels/day at the height of its operation. It is not yet an optimized opening, depending on the tests in progress”, he said.
Edmundo Vuete guaranteed that the team of representatives of the consortium will discuss in order to assess up to what level to maintain the opening of the well in a stable way, it is expected that in the first phase it will have the configuration for the production of 1000 or 1500 barrels/day, in order to raise as soon as the technical and administrative conditions are created.
“The Caco Gazela field has not yet fulfilled its development plan, which includes two more producing wells, with a forecast production of 3,000 barrels/day, and in recent years work has been carried out in order to mature this intention. year we thought to take the decision of the contractor group so that we could reach a consensus to go ahead with the project”, advanced Edmundo Vuete.
The person in charge revealed, on the other hand, that the well produced for two years, after its discovery, but ended up having its activity suspended for technical reasons, until the resumption of the processes that culminated in the current situation.
