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Eni makes major oil find in Angolan offshore

13 marzo 2019 | 11.53
LETTURA: 2 minuti

Eni makes major oil find in Angolan offshore

Italian energy giant Eni has struck oil at the Agogo exploration prospect in Angola’s deep water. The "major" discovery is estimated to contain some 450-650 million barrels of light oil in place with further upside, the company said in a statement on Wednesday.

The Agogo-1 NFW well, which led to the discovery, is located approximately 180 kilometers off the Angolan coast and about 20 km west from the N’Goma Floating Production Storage and Offloading installation (West Hub), the statement said.

The data acquired from Agogo-1 NFW indicate a production capacity of more than 20,000 barrels of oil per day, Eni noted.

"The discovery opens new opportunities for oil exploration below salt diapirs in the north-west part of the prolific Block 15/06, thus creating new chances for unlocking additional potential value," said the statement.

The new well was drilled by the Poseidon drillship in a water depth of 1,636 meters and reached a total depth of 4,450 metres. Eni’s advanced and sophisticated proprietary seismic imaging technologies made possible the mapping and drilling of Agogo prospect, the company stated.

Agogo is the third commercial discovery made by a consortium that began a new exploration campaign in Block 15/06 last year, leading to the discoveries of Kalimba and Afoxé, according to the statement.

The Block 15/06 Joint Venture will work to appraise the discovery and study the fast-tracking of the development, the statement went on.

The consortium contains Eni (operator, with a 36.8421% stake), Angola's national oil and gas company Sonangol (36.8421%) and SSI Fifteen Limited (26.3158%).

Angola is key to Eni's growth strategy and the company currently has equity production of about 155,000 barrels of oil equivalent per day. Besides the N'Goma FPSO, Eni also operates the Olombendo (East Hub) FPSO which together currently produce around 160,000 barrels of oil per day.

Eni also operates the Cabinda Norte Block, located onshore Angola and has been operating in the country since 1980.

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