Ver Angola

Energy

Eni raises potential of Agogo field by 40 percent to one billion barrels of oil

The oil company Eni announced this Thursday that the Agogo-3 field, after all, has 40 per cent more reserves than previously forecast, which brings the exploration potential to one billion barrels.

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"Eni successfully drilled Agogo-3, the second well to assess the Agogo discovery in Block 15/06, offshore [off the coast] of Angola, increasing by about 40 percent the existing oil estimate, which is now one billion barrels, with additional potential to be tested in the northern sector of the field," the oil company announced this Thursday.

In a statement sent to Lusa, the Italian oil company added that "the Agogo-3 well was drilled by the Libongos drilling ship 1.5 km northwest of the Agogo-2 well and 4.5 km northwest of the Agogo-1 well," adding that "the Agogo field is located approximately 180 km off the coast and 23 km from the West Pole (FPSO N'Goma), at a depth of 1,700 metres and has reached a total measured depth of 4,321 metres".

In mid-January, Eni had already announced the start of exploration of this oil field, noting at the time that it had reached a flow of about 10,000 barrels of oil per day.

Now, the Italian oil company points out that it has been confirmed "the existence of an oil reservoir loaded and connected also in this sector below the salt of the Agogo mega structure" and that "the data acquired indicates a production capacity of more than 15,000 barrels of oil per day".

Angola, the statement concludes, "plays a key role in the organic growth strategy of Eni, present in the country since 1980, with a current production quota of about 140,000 barrels of oil equivalent per day; in addition to Block 15/06, Eni currently operates the Cabinda North Block, located in the Angolan onshore, and will increase its areas of operation by adding Blocks 1/14 (lower Congo basin), Cabinda Centre (onshore) and Block 28 in the Namibe basin".

Eni Angola has been the operator of Block 15/06 since 2006, with a 36.84 percent stake, the other partners being Sonangol with 36.84 percent and SSI Fifteen with 26.32 percent.