Block 17, Angola, Commercial Asset Valuation and Forecast to 2030
Block 17 is one of Angola’s first large deepwater projects, which is located off the coast of Angola, West Africa at a water depth of 1,000-1,500m. It is around 200km north-west of the Angolan capital of Luanda. It was discovered in 1996 and covers an area of 5,030sq km.
Block 17 was awarded to Elf in 1991, which acted as the operator until 1999, later the company merged with Total E&P Angola. The Angolan national oil company, Sonangol is the concessionaire of the block. Under a Production Sharing Agreement (PSA) with Sonangol, TotalFinaElf E&P Angola has been contracted as the operator of Block 17 and holds a 40% interest in the Block.
Block 17 is composed of four major production zones. They are Girassol, Dalia, Pazflor and CLOV (named after Cravo, Lirio, Orquidea, Violeta). Two of the four production zones, the Girassol and the Dalia are in production, and the rest of the production zones are in the development phase as of 2010. Block’s reservoir type is heavy to medium oil, with its API varying within a range of 17 and 38 degrees.
During the exploration period, from 1996 to 2003, a total of 29 exploration and appraisal wells have been drilled. A total of 15 discoveries were announced to date in Block 17. These discoveries are Girassol, Dalia, Rosa, Lirio, Cravo, Orquídea, Camelia, Tulipa, Jasmim, Perpetua, Violeta, Anturio, Zinia, Acacia and Hortensia.
The Girassol production zone comprises the Girassol, Jasmim and Rosa discoveries. Dalia production zone comprises the Dalia and Camelia discoveries. The Pazflor production zone comprises Hortensia, Perpetua, Acacia and Zinia discoveries. CLOV, the fourth production zone comprises Cravo, Lirio, Violeta, Orquidea, Anturio and Tulipa discoveries.
The development activities in the Girassol and Dalia production zones are completed as of this date. Currently, operators are developing the Pazflor production zone, which is expected to start producing oil from the Perpetua, Hortensia, Zinia and Acacia fields in 2011. The developme
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