BP says production starts at PSVM project in Angola

Jan 31 (Reuters) - BP Plc said it had begunproduction from the PSVM development area in Block 31 offshoreAngola and expects to ramp up output to around 70,000 barrels ofoil per day.

PSVM is expected to build towards plateau rates of 150,000barrels of oil per day over the coming year with additionalproduction from Saturno and Venus fields in 2013 and Marte in2014.

The PSVM development consists of four oil fields - Plutão,Saturno, Vénus and Marte.

PSVM ranks among BP's list of top projects along withClochas Mavacola, also in Angola, Galapagos in the U.S. Gulf andDevenick in the North Sea.

BP holds a 26.67 percent working interest in the project.