Italian oil group ENI has made a new oil discovery in Angola, at the Ochigufu well, which has an estimated reserve of 300 million barrels, the group announced Wednesday in a statement issued in Milan.

The discovery, according to the Italian oil group, which is the operator of block 15/06 with a 35 percent share, was made at a depth 4,470 metres and the well is expected to be put into production in record time.

In a statement, the ENI group also said the new discovery at the Oghigufu well is the tenth commercial discovery made in that block.

As well as ENI, the other partners in block 15/06 are Sonangol Pesquisa e Produção (30 percent), SSI Fifteen (25 percent), Falcon Oil (5 percent) and Statoil (5 percent).

The Italian oil group has worked in Angola for 34 years, “a key country in the organic growth strategy of the group,” and in 2013 had daily production of about 90,000 barrels of oil.

ENI also has ongoing studies to bring forward the start of production in another field of Block 15/06 by the end of this year, where it expects to produce 100,000 barrels of oil per day. (macauhub/AO)