ENI group discovers more oil in Angola

14 March 2019

Italian group ENI has made another deep-water oil discovery in Angola with estimated reserves of between 450 million and 650 million barrels, the group said in a statement released in Milan.

The Agogo-1 NFW well, where the discovery was made, is located about 180 kilometres off the Angolan coast and about 20 kilometres from the N’Gome FPSO, and was drilled to a depth of 1,636 meters in relation to the average water level of the sea and reached 4,450 metres.

Agogo is the third commercial-grade discovery since the 15/06 block consortium decided to start a new prospecting campaign in 2018, which has already led to the discovery of the Kalimba and Afoxé wells.

The Italian group is the block 15/06 operator with a stake of 36.8421%, with the remaining partners being Sonangol P&P, with the same percentage and SSI Fifteen Limited with the remaining 26.3158%.

Angola is a key country in the organic growth strategy of the ENI group, which has been present in that country since 1980 and currently has daily production of 155,000 barrels of oil. (Macauhub)