Angola: Eni Announces a New Light Oil Well Discovery in Angola

Luanda — Italian oil company Eni has discovered a new light oil well in Block 15/06, in deep waters off the Angolan offshore, according to a press release reached Angop on Tuesday.

The discovery represents a further success of Eni's exploration strategy in Block15/06 that will allow the immediate development of new resources.

The well has been drilled on the Cuica exploration prospect located inside the Cabaça Development Area and close to the Armada Olombendo FPSO (East Hub) pursuing the exploration opportunities in proximity of existing infrastructures (ILX, infrastructure-led exploration).

The results of intensive data collection indicate an estimated production capacity of 10,000 barrels of oil per day.

Cuica is the second significant oil discovery within the Development Area of the Cabaça field and confirms the commitment of the contracting group of Block 15/06 to leverage the legal framework favorable to additional exploratory activities within existing Development Areas.

According to discoveries of the Kalimba, Afoxé, Ndungu, Agidigbo, Agogo wells and the evaluation wells carried out between 2018 and 2020, Cuica represents the first commercial discovery in Block 15/06, after the restart of the exploration campaign activities after the Covid-19 pandemic and the fall in the price of a barrel of oil.

The extension of exploration in Block 15/06 for a period of three years was recently granted until November 2023.

The contractor group for Block 15/06 comprises Eni (Operator, 36.8421%), Sonangol P&P (36.8421%) and SSI Fifteen Limited (26.3158%).

Angola plays a key role in the strategy for organic growth of Eni, which has been present in the Country since 1980.

Besides the operated Block 15/06, with two producing hubs, and the development of a third hub on Agogo field, Eni currently operates in exploration phase Block 1/14 (offshore Lower Congo Basin), Blocks Cabinda Norte and Cabinda Centro (onshore) and will soon increase its operated areas with Block 28 in the offshore Namibe Basin.

The current equity production is of about 120.000 barrels of oil equivalent per day.

The discovery represents a further success of Eni's exploration strategy in Block15/06 that will allow the immediate development of new resources.

The well has been drilled on the Cuica exploration prospect located inside the Cabaça Development Area and close to the Armada Olombendo FPSO (East Hub) pursuing the exploration opportunities in proximity of existing infrastructures (ILX, infrastructure-led exploration).

The results of intensive data collection indicate an estimated production capacity of 10,000 barrels of oil per day.

Cuica is the second significant oil discovery within the Development Area of the Cabaça field and confirms the commitment of the contracting group of Block 15/06 to leverage the legal framework favorable to additional exploratory activities within existing Development Areas.

According to discoveries of the Kalimba, Afoxé, Ndungu, Agidigbo, Agogo wells and the evaluation wells carried out between 2018 and 2020, Cuica represents the first commercial discovery in Block 15/06, after the restart of the exploration campaign activities after the Covid-19 pandemic and the fall in the price of a barrel of oil.

The extension of exploration in Block 15/06 for a period of three years was recently granted until November 2023.

The contractor group for Block 15/06 comprises Eni (Operator, 36.8421%), Sonangol P&P (36.8421%) and SSI Fifteen Limited (26.3158%).

Angola plays a key role in the strategy for organic growth of Eni, which has been present in the Country since 1980.

Besides the operated Block 15/06, with two producing hubs, and the development of a third hub on Agogo field, Eni currently operates in exploration phase Block 1/14 (offshore Lower Congo Basin), Blocks Cabinda Norte and Cabinda Centro (onshore) and will soon increase its operated areas with Block 28 in the offshore Namibe Basin.

The current equity production is of about 120.000 barrels of oil equivalent per day.

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