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You are here: HomePortuguese Speaking Countries News[2019-03-14] ENI group discovers more oil in Angola

[2019-03-14] ENI group discovers more oil in Angola

Source: Macauhub

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.