Eni Makes Big Oil Discovery on Agogo Block, Offshore Angola
March 13 2019 - 6:41AM
Dow Jones News
By Nathan Allen
Eni SpA (ENI.MI) said Wednesday that it has made a major oil
discovery on the Agogo exploration block in deep water offshore
Angola.
The Italian oil major estimates the prospect could hold between
450 million and 650 million barrels of light oil, with potential
for further upside.
The Agogo-1 NFW well, which led to the discovery, is located
around 180 kilometers off Angola's coast and around 20 kilometers
from Eni's N'Goma floating production vessel.
Preliminary data indicate the well could produce more than
20,000 barrels of oil a day.
Eni will continue to appraise the discovery together with its
joint-venture partners on the block Sonangol and SSI Fifteen.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 13, 2019 06:26 ET (10:26 GMT)
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