Further Offshore Discoveries in Angola



    Further Offshore Discoveries in Angola

    25 February 2010

    Two new oil discoveries have been made offshore in Angola by an Eni-lead consortium. In block 15/06, the Nzanza-1 and Cinguvu-1 wells, which are located in water some 350 kilometers offshore Luanda, produced test flow rates of 1,600 barrels per day (bpd) of crude oil.

    Significantly, the discoveries mark the fourth and fifth successful wells to have been drilled at the block. In fact, the wells were drilled in close proximity to the Cabaça Norte-1 well, which hit oil in October 2009, in order to speed up the rate of development of a second production hub at the block. The new hub is set to be named the Northeastern Hub. It is likely that further discoveries will be made in Angola lucrative offshore field: further exploration wells are timetabled to be drilled later this year.

    Although the new discoveries are yet to be confirmed by Italian major Eni, the block’s operator with a 35% stake, they have been announced by project partner Petrobras, which holds a 5% stake in the block. The other partners in the project are, local state-owned firm Sonangol with 15%, SSI Fifteen with 20%, Total with 15%, Falcon Oil Holding Angola with 5% and Statoil also with a 5% stake. Deep offshore block 15/06 has proven highly prospective to-date for the partners developing the block. A first production hub, namely the Northwestern Hub, is centred on the Sangos and N’Goma discoveries, which were the first two wells to be successfully drilled at the block. At present, the hub is in the pre-development phase, with studies and appraisal drilling currently underway.

    Eni first entered the Angolan oil industry back in 1980 and the country remains a major player in the firm’s global upstream portfolio. Eni has a broad spread of interests and is enjoying strong production growth in the country. The firm’s main participating interests are in Block 0 (9.8%), development areas in the former Block 14 in the deep offshore west of Block 0 (20%) and in the former Block 15 in the deep offshore of the Congo Basin (20%).

    Eni also holds interests in minor concessions including some areas of Block 3, where it has stakes of 12-15%, and in the 14K/A IMI Unit Area (10%). As recently as 2008, Eni’s total production amounted to 126,000 bpd in the African nation. In addition, interests in exploration acreage include a 35% stake in Block 15/06 and a 12% stake in Block 3/05-A.



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