Angolan government authorises Italian group ENI to continue exploration of oil block

20 January 2015

The government of Angola has authorised Italian oil company ENI to extend prospecting for oil in Block 15/06 in the Angolan sea for another three years, the group said in a statement issued in Milan.

According to the statement, the block is located in ultra deep water off the coast of Angola 350 kilometres northwest of Luanda and is still under evaluation. Its original license expired last November.

The group said it had asked the government for an “extension” of that period, to complete ongoing exploration operations, and the extension will allow it to extend drilling activities in three wells and conduct seismic surveys in an an area of of 1,000 square kilometres.

“If the exploration proves successful, any discovery could be made use of quickly, using existing production infrastructure,” said the Italian group.

This term extension, the oil company said, includes a block adjacent to area 15/06 covering the “Reco-Reco” reserve estimated at one billion barrels of oil.

In block 15/06, over the past eight years ENI has drilled 24 wells for oil exploration, which resulted in the discovery of more than 3 billion barrels of oil. (macauhub/AO)