ENI group plans to extract more oil in Angola

17 October 2016

Italian group ENI will begin to extract more oil in the ​​Angolan sea, with the future entry into operation of floating production, storage and offloading (FPSO) vessel, the group said in statement issued in Milan.

The statement said to the ceremony to name the FPSO – “Armada Olombendo” – had been carried out in Singapore where it was built by Keppel and the vessel would soon start its journey to Angola.

The FPSO was commissioned from Keppel by Bumi Armada of Malaysia, which for this purpose has taken on a loan of US$1.12 billion dollars, and the vessel will now be leased to the ENI group to extract oil in Block 15/06, 350 kilometres north of Luanda.

The “Armed Olombendo,” which was reconfigured from the supertanker “Armada Ali”, has a storage capacity of 1.8 million barrels of oil.

The Italian group is the block operator with a 36.84% stake and the remaining partners are Sonangol Pesquisa e Produção (36.84%) and SSI Fifteen Limited (26.32%). (macauhub)