TotalFinaElf announces Angolan oil find

Jul 07, 2001 02:00 AM

French oil giant TotalFinaElf has announced the discovery of oil at the Tombua site, located on Block 14 offshore Angola. The Tombua 1 well, drilled at a depth of 280 metres, was tested at approximately 10,000 bpd of high quality oil, TotalFinaElf said. Chevron will operate the well.

This seventh discovery at Block 14 will be followed by geological and engineering studies to define its potential. TotalFinaElf holds a 20 % stake in Tombua, and Chevron holds 31 %. Other shareholders include Angola's national oil company Sonangol, Italy's Agip, and the Portuguese state-owned oil company Petrogal.

Source: Dow Jones via Energy24
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