Angola Discovers New Offshore Oil Reserves with Katambi-2 Well

Angola's state-owned oil firm Sonangol and its partner ANPG have announced the successful completion of the Katambi-2 appraisal well in Block 24 of the Benguela Basin. The well, drilled at a distance of about 1.3 kilometers from the previous Katambi-1 well, confirmed good quality reservoirs with quality metrics higher than those found in the earlier discovery.

The initial tests showed a stabilized production rate of 1,160 barrels per day (bpd) of condensate and 41 million standard cubic feet (MMscfd) of gas. The absence of water or hydrogen sulfide in the well reinforces its economic viability and potential contribution to optimizing national production.

This development is significant as Angola aims to reverse years of falling oil production and develop non-associated gas resources. Crude output has stabilized at about 1.1 million bpd, up from a low of around 1 million barrels per day last year. The country's first non-associated gas development was launched earlier this year by the BP-Eni joint venture Azule Energy.