ENI group finds more oil in Angola

12 December 2018

Italian group ENI has made a new oil discovery at the Afoxé-1 NFW field in Angola’s 15/06 block, which could lead to an increase in production of 170 million to 200 million barrels, according to a statement released in Milan.

The Afoxé-1 NFW field is located in the southeastern area of block 15/06, approximately 12 miles west of the Kalimba-1 discovery, with expected production of 230 million to 300 million barrels, which the group announced last June.

The new discoveries of Kalimba and Afoxé-1 NFW together have a potential to produce 400 million to 500 million barrels of high-quality oil, according to the statement.

The ENI group has been in Angola since 1980, where it already produces the equivalent of 150,000 barrels of oil per day and has signed a contract to operate, modernise and expand production at the Luanda Refinery, the only oil refinery in the country.

Block 15/06 is being developed by a consortium made up of the ENI group, as an operator with a 36.84% stake, Sonangol Pesquisa e Produção, also with 36.84% and SSI Fifteen Limited with 26.32%. (macauhub)