Wednesday, January 03, 2007

Total SA and Sociedade Nacional de Combustiveis de Angola said Wednesday they made an oil discovery in the ultra-deep waters of the Angolan offshore that tested at a rate of 3,686 barrels per day.

The Salsa-1 exploration well was drilled in a water depth of 1,806 meters (5,925 feet), Total said in a statement. Technical studies are under way to evaluate the results from the tests, and further exploration drilling is under way and planned across the area.

Sonangol, the state oil company, holds the concession rights for the area where the test well was drilled. The contractor group is formed by Total, which holds a 30 percent interest; Sonangal with 20 percent and Marathon Oil Co. with 30 percent.