BP Plans Expansion of Angola Activities

Fecha : 17/12/2018 @ 08:09
Fuente : Noticias Dow Jones
Emisora : Bp Plc (BP.)
Cotización : 551.2  -9.3 (-1.66%) @ 04:07
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BP Plans Expansion of Angola Activities

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By Carlo Martuscelli

 

BP PLC (BP.LN) said Monday that it has signed an agreement with Angola's national oil company to further develop its activities in the country.

The company said it agreed with Sonangol to take a final investment decision for the Platina field in the second quarter of 2019, with first oil in late 2021 or early 2022. The Platina field was discovered in 1999 and is at a water depth of around 1,300 meters.

BP and Sonangol also agreed to extend a production license for the Greater Plutonio project to 2032, and for Sonangol to take an 8% stake in the project, the British energy major said.

The two companies signed memoranda of understanding regarding potential future access and exploration offshore Angola, as well as cooperation in a new crude terminal and storage facility in the country, BP said.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

December 17, 2018 08:54 ET (13:54 GMT)

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