Eni announce new oil discovery offshore Angola

Monday, March 18, 2013
  • The discovery was made through the Vandumbu 1 well, located approximately 150 kilometers from the coast.

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 (34° 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 Eni's organic growth strategy. Eni has been present in the country since 1980 with a net production of 102,000 barrels per day in 2011.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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