Business news feedBP, Total win concessions in Angola deep water blocks

Fri,17Nov2017

Posted on Thursday, 16 June 2011 15:45

BP, Total win concessions in Angola deep water blocks

June 16, 2011, 2:57 pm

LUANDA (Reuters) - BP, Total, Eni and other international majors were awarded concessions to explore in Angola's ultra-deep water blocks known as pre-salt blocks, Angola's state-owned oil firm Sonangol said on Monday.Other successful bidders included ConocoPhillips, Statoil, Repsol and Cobalt International Energy.Angola said last year it was keen to develop its pre-salt blocks. The move could render huge profits for Angola which boasts a similar underwater rock formation to Brazil, which in 2007 made a pre-salt discovery of some 8 billion barrels of crude in its Tupi field.



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