Angola's state oil company Sonangol said it has found oil and gas reserves in the Kwanza Basin that could total 2.2 billion barrels of oil equivalent (boe), including in a block it jointly owns with BP Plc (NYSE: BP).
Block 24, operated by BP, holds an estimated 280 MMbbl of condensate and 8 trillion cubic feet (Tcf) of gas, totalling 1.7 Bboe, Sonangol said in a statement seen by Reuters on April 14.
Sonangol said that Block 20, which it operates, is also commercially viable and contains an estimated 139 MMbbl of condensate and 2.5 Tcf of gas, totalling 570 MMboe.
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