INTSOK Annual Market Report (2011-2014) ANGOLA

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INTSOK Annual Market Report 2010 Main Markets - Angola Block 32, up to 6 development projects – Total Block 32 includes 12 discoveries by end 2009. Block 32 is operated by Total (30% ownership) with partners Sonangol (49%), ExxonMobil (15%), Marathon (10%) and Galp Energia (5%). The most advanced development plan has been for the south eastern discoveries Gindungo, Canela, and Gengibre (GCG), with first oil expected 2016. Original development plans included a newbuild 200 kbblpd FPSO for GCG, but use of a converted unit is also reported with Modec conducting a study of HSE implications from use of a converted vessel. Additionally, Total has reported a stand-alone development of Gengibre from a 60 kbblpd FPSO. In that case, Gindungo and Canela are likely to be a second development project. A third project is likely based on the larger Louro field with possible subsea tieback of Salsa and Mostarda discoveries. Another 3 development projects could include Manjericao and Colorau; Cominhos and Alho; and Caril and Cola. Angola, LNG Soyo under construction, gas exports from 2012 – Sonangol/Chevron Angola LNG project objective is to monetize gas from offshore Blocks 0, 1, 2, 14, 15, 17 and 18. Blocks 1 and 2 contain non-associated gas resources, while 0, 12, 14, 15, 17 and 18 are associated gas. Plant location at Soyo is 300 km north of Luanda. Project is operated by Chevron (36.4% ownership) with partners Sonangol (22.8%), Total (13.6%), BP (13.6%) and ENI (13.6%). Sonangol reports that more than 10 Tcf of gas resources are available for the LNG plant with additional resources as new oil projects are developed. Final Investment Decision (FID) for the project was made December 2007. Construction of the LNG plant began 2008 and was reported on schedule during 2009, Chevron estimates the onshore plant development cost will be USD 9 billion. First LNG shipment is expected by the partners to take place during 2012. March 2010 Angola LNG’s contractor Acergy/SpieCapag reported successful installation of the critical Beach Crossing for the 3 offshore pipelines under a USD 550 million contract that is part of the Angola Pipeline Network. The development concept includes the onshore LNG plant with a capacity of 5.2 million ton per year, with design capacity for 1.1 bcfd of gas. Gas will be gathered from offshore blocks and then routed to shore via a 250 km pipeline. In addition to the export of LNG and related gas liquids products, the plant will supply up to 125 Mcfpd for domestic gas needs in Angola. Contract awards include advanced engineering and procurement to be carried out by Bechtel, site preparations to Boskalis/Jan de Nul Dredging. Saipem/Petromar won the contract for the LNG, propane, butane and condensate storage systems, and Teekay/NYK/Mitsui won contract to charter 4 LNG carriers to be built by Samsung. In addition, Sonangol ordered 3 LNG carriers to be constructed by Daewoo. 10
INTSOK Annual Market Report 2010 Main Markets - Angola INTSOK priority projects with all major contracts awarded: Block 4/05, Gimboa in production with exploration potential – Sonangol P&P Gimboa oil field is situated in block 4/05 offshore Angola in 700 m water depth. Project participants are operator Sonangol (50% ownership), Statoil (20%), Somoil (15%) and Angola Consulting Resources (15%). The field, developed with a FPSO and a subsea production system, started production in April 2009. Statoil states that the block contains a large area with remaining exploration potential. Summary of INTSOK priority projects: Table 8: INTSOK priority projects – Angola Project Name Operator M ain Development Concept Rystad Energy Start-up Gimboa Sonangol Floater 2009 Pazflor Total Subsea 2011 Angola LNG Chevron Onshore 2012 Block 15: Kizomba Satellites Phase 1 ExxonM obil Subsea 2013 CLOV Total Floater 2015 Block 31 (Palas/Astraea/Juno/Dione) BP Floater 2016 Block 18 West (Platina/Chumbo) BP Subsea 2016 Block 14: Negage/Lianza/Lucapa Chevron Floater 2017 Block 32 (Gindungo-Canela-Gengibre) Total Subsea 2017 1.7 Other selected upcoming projects In addition to the INTSOK priority projects, more than 40 possible upcoming offshore projects are expected to come on stream in Angola towards 2020. Below is a non exhaustive list of project examples in this period. Table 9: Other selected upcoming projects – Angola Project Name Operator M ain Development Concept Rystad Energy Start-up Kakocha (Block 15) ExxonM obil Subsea 2014 Reco-Reco (Block 15) ExxonM obil Subsea 2015 Sangos (Block 15/06) ENI Floater 2015 Ngoma (Block 15/06) ENI Floater 2015 M bulumbumba (Block 15) ExxonM obil Subsea 2017 Tchihumba (Block 15) ExxonM obil Subsea 2017 Bavuca (Block 15) ExxonM obil Subsea 2017 Ceres (Block 31) BP Floater 2018 Hebe (Block 31) BP Subsea 2018 Titania (Block 31) BP Subsea 2018 11
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INTSOK Annual Market Report (2011-2014) ANGOLA

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