Eni has made an important new oil discovery in Block 14, through the Lucapa-1 exploration well located offshore Angola about 400 kilometres north-west of Luanda.
Eni holds a 20% interest in Block 14. Other shareholders are Cabinda Gulf Oil Company (operator, 31%), Sonangol (20%), Total (20%) e Galp (9%).
The discovery well Lucapa-1 was drilled to a depth of more than 3,340 metres, in 1,200 metres of water. Lucapa-1 lead to a 85-metres oil sands discovery, with a quality of 24-degrees API quality1 . Reserves and potential of the discovery will be evaluated through a further exploration well and full geological studies.
Lucapa-1 discovery further strengthens Eni’s presence in Angola, where the Company recently became operator in the high-potential 15/06 exploration Block.
Angola is one of the world’s fastest growing oil producing countries, along with Algeria, Egypt, Libya, Nigeria and Kazakhstan. Eni has identified these countries as strategically important for increasing its oil production.
Eni first entered Angola in 1980 and has since established a significant production base in the country, where it is currently producing above 160,000 net barrels of oil per day. Eni will increase its production in Angola to over 200,000 net barrels of oil per day by the end of 2009 thanks to the development of deepwater projects.