ENI Group discovers another 250 million barrels of oil in Angola

15 May 2019

An oil well estimated to contain 250 million barrels of light oil was discovered in block 15/06 in deep waters of the Angolan sea, Italian group ENI said in a statement.

The Ndungu-1 NFW well, where the discovery was made, is located about 130 kilometres from the coast, ten kilometres northeast of the N’goma Floating Production and Storage Unit (FPSO) and two kilometres from the Mpungi oil field was drilled to a water depth of 1,076 meters and a total of 4,050 metres.

The ENI group said in the statement that Ndungu is the first major oil discovery in an area already in operation and added that it validates the legislation approved by the Angolan government, namely Presidential Decree 5/18 of 18 May establishing a framework for additional activities in those areas.

The Italian group added that this was the fourth commercial discovery since the block 15/06 partnership launched its new prospecting campaign in mid-2018, after the Kalimba, Afoxé and Agogo wells, which together are expected to contain 1.4 billion barrels of light oil.

The consortium of block 15/06 consists of ENI, as the operator, Sonangol P&P, both with a stake of 36.8421%, with the remaining 26.3158% held by SSI Fifteen Limited. (Macauhub)