13 March 2019

Angola: Sonangol, Eni Announce Major Oil Discovery in Block 15/06

Luanda — The state-run oil firm Sonangol and Eni announced Wednesday a new oil discovery in block 15/06 in the Lower Congo Maritime Basin.

The data indicate an original volume of resources ranging from 450 to 650 million barrels of oil.

The firms foresee a production capacity of more than 20,000 barrels of oil per day, according to a press release from Sonangol sent to Angop.

The commercial discovery is part of the exploration campaign of the 15/06 Block consortium, launched in 2018, followed by the already announced discoveries of the Kalimba-1 and Afoxé-1ST # 1 wells.

Located approximately 180 kilometers from the coast of the northern Zaire Province and about 20 kilometers from the Ngoma FPSO, Block 15/06 has as a contractor group Eni.

Eni has a participation of 36.8421%, Sonangol P & P with 36 , 8421% and SSI Fifteen Limited 26.3158%.

Eni has been operating in the country since 1980 and reached an equivalent daily production of around 155,000 barrels of oil.

The Block 15/06 has two FPSOs in operation (N'Goma in the West Pole and Olombendo in the East Pole) with current production standing at about 160,000 barrels of oil per day.

Angola is the second largest producer in Sub-Saharan Africa, after Nigeria (1.7 million), with an estimated production of 1.5 million barrels per day.

The Angolan Executive adopted policy measures in 2018 to halt the natural decline in the sector, which has already produced 1.8 million barrels per day.

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