Title: Revival of oil exploration in Angola: promising potential in the KON 11 block
Introduction :
Angola’s state-owned oil company (Sonangol) recently announced its intention to relaunch oil exploration work in block KON 11, located in the Kwanza basin. In collaboration with its partners, Sonangol aims to exploit the large unproduced oil reserves still present in this area. This article will take you through the details of this initiative, as well as its potential impact on Angolan oil production.
The potential of the KON 11 block:
According to information provided by the company Corcel, which now owns 90% of the capital of Atlas Petroleum Exploration Worldwide Limited, block KON 11 still contains around 65 million barrels of unproduced oil resources. This is an impressive figure which attests to the economic potential of this area. Sonangol and its partners intend to monetize these resources by reviving exploration and exploitation activities in the KON 11 block.
The next steps :
To materialize this project, Sonangol and its partners plan to drill a first well in the KON 11 block, which could be followed by several others if the results are conclusive. No specific timeline has yet been announced, but internal sources indicate that assessment work will also be carried out in KON Block 11. Geological and geophysical studies may also be carried out in order to improve the mapping of structures present on the block. site.
The impact for the Angolan oil industry:
The revival of oil exploration in the KON 11 block could have a significant impact on the Angolan oil industry, which has seen a significant drop in production in recent years. By exploiting the unproduced resources of Block KON 11, Sonangol and its partners could help reverse this trend and boost the country’s oil production.
Conclusion :
The revival of oil exploration in the KON 11 block in Angola represents a major opportunity for Sonangol and its partners to exploit promising unproduced oil resources. This project could not only contribute to the development of the Angolan oil industry, but also to the economic growth of the country. It now remains to follow closely the next steps of this exciting project.