In SA at the moment and lots of talk regarding Angola. China is pouring huge coin there - they really are trying to take up dominate positions there and paying over market for fields.
Also more news regarding Cabinda - below is release from Chevron. Ready carefully folks as this field is the same group that extends into ROCs on shore block. +++++++++++++++++++++++++++
Lobito kick-off for Chevron
By Upstream staff Chevron subsidiary Cabinda Gulf Oil Company has started oil production from the deep-water Lobito field in Block 14, off Angola. The move marks the start of full production from Chevron's Benguela, Belize, Lobito and Tombaco (BBLT) project off Angola, one of Chevron's "Big 5" developments. Chevron flowed first oil from the Benguela Belize compliant piled tower in January. First oil from the Lobito-Tomboco subsea project was achieved on 7 June 2006. The BBLT development lies 80 kilometres off Angola's coast in 1300 feet of water, and was completed in two phases. The second phase involved the installation of three subsea centres each handling nine subsea wells, tied back to the Benguela-Belize drilling and production platform established in the first phase of the project. Chevron said the project was now producing more than 88,000 barrels of oil per day from four wells, with production due to ramp up over the next two years to 200,000 bpd.
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
