Eni and partners set for Angola spending spree

Eni action offshore Africa: Angola’s capital Luanda

REUTERS/SCANPIX

By Iain Esau London

 16 August 2012 22:59 GMT

Italian major Eni and its partners in Block 15/06 off Angola are set to go on a multi-billion dollar spending spree from 2013.

The partners are ploughing funds into their ongoing Western Hub project and eyeing the potential for at least one more development allied to further exploration drilling.

Industry sources told Upstream the block owners — that also ­include Sonangol, Sinopec-­Sonangol, Total, Statoil and Falcon Oil — plan to set aside more than $12 billion between 2012 and 2017.

About $1.5 billion is earmarked for spending in this financial year on the Western Hub project, which involves the upgrade of SBM Offshore’s former Xikomba floating production, storage and offloading vessel, plus the purchase of subsea…

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