Oil production begins from PSVM project offshore Angola
BP PLC reported that oil production has started from the Pluto, Saturn, Venus, and Mars (PSVM) oil fields development area on Block 31 offshore Angola.
Initial production has started from three production wells in Pluto field and is expected to ramp up to 70,000 bo/d. Production from PSVM is targeting plateau rates of 150,000 bo/d over the next year with production from Saturn and Venus fields expected during 2013 and from Mars, in 2014.
The PSVM development produces through a converted hull, floating production, storage, and offloading vessel with a storage capacity of 1.6 million bbl. BP says it is the first FPSO in ultradeepwater Angola and will connect with 40 production, gas, and water injection wells through 15 subsea manifolds and subsea equipment.
Block 31 covers 2,065 square miles and lies in 4,921-8,202 ft of water. BP Exploration (Angola) Ltd. has served as operator of Block 31 since May 1999 with 26.67% interest. Other Block 31 interest holders are Sonangol EP 25%, Sonangol P&P 20%, Statoil Angola AS 13.33%, Marathon International Petroleum Angola Block 31 Ltd. 10%, and SSI 31 Ltd. 5%. Sonangol EP is concessionaire.
BP started construction work on the development in 2008