Italy’s ENI to extract more oil in deep waters in Angola

20 October 2016

Italian group ENI will begin to extract more oil in deep waters in Angola’s offshore areas, with the future entry into operation of a floating production, storage and offloading vessel (FPSO) for oil and natural gas, the group said in a statement.

The FPSO vessel, built in Singapore by Meppel, has a storage capacity of 1.8 million barrels of oil and will support oil drilling in Block 15/06, 350 kilometres northwest of Luanda and 130 kilometres west of Soyo.

The chief executive of ENI told Italian news agency AGI (Agenzia Italia Giornalistica) that the company will make major investments to develop the 15-06 block in the next two years to double production over the next three and a half to four years.

In January, the ENI group started oil extraction in the Mpungi field of the 15-06 block, in deep waters, located 350 kilometres northwest of Luanda.

The beginning of mining in the development project called “West Hub” allowed the group to increase production to about 100,000 barrels of oil equivalent per day in the first quarter of 2016.

The development project includes the Sangos fields, Cinguvu, Mpungi, Mpungi North, Ochigufu and Vandumbu fields at a depth of between 1,000 and 1,500 metres.

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