Sirius Petroleum and Somoil SA, as a joint consortium, agreed to acquire participating interests in Angolan offshore blocks 18, 31, and 27 from Sonangol Pesquisa e Produção S.A. (Sonangol) for a total consideration of $335.5 million.
Current gross production from Blocks 18 and 31 is averaging about 160,000 b/d with net production to the consortium expected to average 15,500 b/d. Block 27 is not yet in production.
Block 18 is 160 km northwest offshore Luanda. Eight discoveries have been made in this block, of which Galio, Cromio, Cobalto, Paladio, and Plutonio fields make up the first producing complex known as Greater Plutonio. Current gross production from the block is averaging about 80,000 b/d.
Gross 2P/2C reserves of 220 million bbl relate to existing production and sanctioned developments, according to the operator. The consortium will acquire 8.28% interest in this block for a total consideration of $165 million.
Block 31 is 400 km northwest offshore Luanda and consists of four oil fields; Plutão, Saturno, Vénus and Marte (PSVM), which were discovered between 2002 and 2004 in water depths of up to 2,000 m in the northeast part of the block.
Current gross production from the block is averaging about 80,000 b/d with 275 million bbl gross 2P/2C reserves relating to existing production and sanctioned developments. Further gross 2C resources of 516 million bbl are expected from existing discoveries, according to Gaffney Cline & Associates. The consortium will acquire 10% interest of this block for total consideration of $170 million.
Block 27 is a deepwater exploration and appraisal block offshore in Kwanza basin, an area known for its gas potential. The consortium will acquire 25% non-operated interest in the block for total consideration of $500,000.
Block 18 and PSVM are operated by BP Angola (26.67%) with partners Equinor Energy AS (13.3%), Sinopec International Petroleum Exploration & Production Corp. (15%), and Sonangol (45%).