Angola hit by payments crisis

In depth
Issue 299 - 01 May 2015 - By Thalia Griffiths | 6 minute read

ConocoPhillips has had another disappointment in the Kwanza Basin with the Omosi-1 well on Block 37. The company said the well had been drilled to 6,300 metres total depth and had encountered a 160 metre gas column. No further activity is planned, and the well has been plugged and abandoned. After Cobalt’s big Cameia discovery on Block 21 in February 2012 and Maersk’s smaller 2011 Azul find on Block 23, there were high hopes for the Kwanza Basin. Angola had hoped the pre-salt play would deliver the same success as on the other side of the Atlantic, but it has not been an unqualified success.

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