Italian oil giant Eni and Angola's Sonangol have announced an ÔÇ£importantÔÇØ offshore oil discovery off the coast of Angola.
The find was at the Cabaca Norte-1 well in the 15/06 block, which is located around 350 kilometres north of Luanda in the south Atlantic.
In tests, the well, which was drilled to a depth of 2,830 metres, produced a rate of 6,500 barrels of oil equivalent per day (boepd).
Four exploration wells have been drilled in the 15/06 block so far, with threeÔÇöSangos, N'Goma and Caba├ºa NorteÔÇöresulting in discoveries.
Cabaça Norte could become the largest discovery to date in the 15/06 block, which is known as the north-eastern hub.
The north-western hub, which is centered upon the Sangos and N'Goma discoveries, is currently in the pre-development phase, with ongoing studies and appraisal drilling underway.
In a statement, Rome-based Eni said: ÔÇ£This successful discovery confirms the high potential of Block 15/06, which was awarded to Eni in 2006 following an extremely competitive international tender.
ÔÇ£The success to date in exploring the block is also due to Eni's deepwater experience and use of its proprietary technologies to minimize the technical risks.ÔÇØ
Eni has said it plans to drill more wells in the area to accelerate future developments.
The Italian firm has a 35 per cent interest and is the operator in the 15/06 block.
The other partners are SonangolÔÇÖs research and production unit Sonagol Pesquisa e Produ├º├úo, which holds 15 per cent; AngolaÔÇÖs SSI Fifteen with 20 per cent; oil major Total, with 15 per cent; Falcon Oil Holding Angola with five per cent; Brazilian Petrobras International Braspetro with five per cent and Statoil Angola Block 15/06 Award, also with five per cent.
The find further cements AngolaÔÇÖs position as an important oil-producing country. French giant Total said it produced around 205,000 boepd in 2008 in the country.
Eni has been operational in Angola since 1980. The companyÔÇÖs current total production stands at approximately 130,000 boepd.
Eni commented: ÔÇ£This discovery further strengthens Eni's presence in the country, confirming Angola as one of the core countries in the company's organic production growth strategy.ÔÇØ
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