Ver Angola

Energy

Four months after discovery, Eni links Cuica field to the oil production network

Italian oil company Eni announced, during the presentation of quarterly results, that it will connect the Angolan field of Cuica, in the Cabaça Development Area, to the production network “in these days”.

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"We confirm that the Cuica field in Angola, discovered in March, close to our FPSO [floating oil production unit] in Block 15/06, will be connected to production in these days, just four months after the discovery," said the Managing Director of Eni, Claudio Descalzi.

The Cuica-1 NFW field was drilled as a "deviated well by the Libongos drilling rig" in deep waters of 500 meters, having reached a total vertical depth of 4100 meters.
Eni also expressed confidence in the combination of business in Angola with the British BP, which "will allow for greater growth in the country", on the day it presented production figures for the second quarter in sub-Saharan Africa.

In the quarterly report, the Italian oil company said it had signed "a memorandum of understanding with BP to assess the combination of the respective upstream portfolios in the country, establishing a joint venture based on the Var business model".

In presenting the results, Claudio Descalzi said that the oil companies are "progressing" the business combination.

"This new company will represent a fully autonomous operational and financial vehicle. It will allow for greater growth in the country, while capturing synergies between two of the largest local operators," added the administrator.

According to Claudio Descalzi, the objective of Eni and BP is to "replicate the Var success", held in Norway, Angola, foreseeing "great potential for exploration and development".

On upstream production, Eni said it had discovered "more than 300 mboe [million barrels of oil equivalent]" in the first half of the year globally, "almost two-thirds" of the annual target.
In this field, the Italian oil company said that "the main successes were in Norway, Angola, Indonesia and Ghana".

In addition to Block 15/06, Eni is currently operating Block 1/14 ('offshore' in the Lower Congo Basin) and the Cabinda Norte and Cabinda Centro blocks ('onshore') in the exploration phase. , which foresaw to increase "its operated areas with Block 28 in the 'offshore' of the Namibe Basin".

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