Eni unearths new Angola oil discovery of up to 250 million barrels
Italian major says find at Cuica exploration prospect is close to the Armada Olombendo FPSO
Eni has unearthed a fresh light oil discovery offshore Angola that the Italian major says is estimated to contain up to 250 million barrels of oil in place.
The operator is already planning to sidetrack the Cuica-1 NFW well up dip "to be placed in an optimal position as a producer well", it said.
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The well was drilled on Block 15/06 in the Cabaca Development Area, close to the Armada Olombendo floating production, storage and offloading unit.
It was drilled with the drillship Libongos in a water depth of 500 metres to a total vertical depth of 1400 metres, hitting a total of 80 metres of reservoir of light, 38-degrees API oil in sandstones of Miocene age.
"The result of the intensive data collection indicates an expected production capacity of around 10,000 barrels of oil per day," Eni said of the well where the estimated size of the discovery has been pegged at between 200 million and 250 million barrels of oil in place.
The well is close to the East Hub field development's subsea network, which "will allow a fast-track tie-in of the exploration well and relevant production, thus immediately creating value while extending the Armada Olombendo FPSO production plateau".
Eni said production is expected to start within six months after discovery.
Cuica is the second significant oil discovery on Block 15/06 and the first commercial discovery on the tract since the relaunch of the exploration campaign following the outbreak of the coronavirus pandemic and subsequent collapse in oil prices last year.
"The discovery confirms the exploration potential of the block and Eni’s strong commitment to further unlock the value of the area through effective proprietary technologies and its capability to quickly turn resources into production," Eni said on Tuesday.
"A three-year extension of the exploration period of Block 15/06 has been recently granted until November 2023."
Eni operates Block 15/06 on 36.8421% and is joined by state oil giant Sonangol on the same stake and SSI Fifteen on 26.3158%.
The block current has two producing hubs with a third, on the Agogo field, under development.
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