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Eni: New Oil Discovery Offshore Angola


WEBWIRE

This discovery confirms Angola as one of the core countries in Eniís organic growth strategy. Eni has been present in the country since 1980 with a net production of 102,000 barrels per day in 2011.

San Donato Milanese (Milan),- Eni has made the ninth oil discovery in Block 15/06, in deep water offshore Angola, increasing the resource base of the West Hub project. The discovery was made through the Vandumbu 1 well, located approximately 150 kilometers from the coast. The well was drilled at a water depth of 976 meters and reached a total depth of 4,107 meters.

Additional drilling has been carried out from the Vandumbu 1 well in different direction (side track), Vandumbu 1 ST, that reached a depth of 3,480 meters, finding a net oil (34į API) pay of 114 meters, contained in Lower Miocene high quality sand. As suggested by data acquired, Eni estimates that Vandumbu 1 ST has a production capacity in excess of 5,000 barrel of oil per day.

Eni is operator of Block 15/06 with 35%. The other partners of the joint venture are SSI Fifteen Limited (25%), Sonangol (15%), Total (15%), Falcon Oil Holding Angola SA (5%) and Statoil Angola Block 15/06 (5%). This discovery confirms Angola as one of the core countries in Eniís organic growth strategy. Eni has been present in the country since 1980 with a net production of 102,000 barrels per day in 2011.



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