Italian multinational oil and gas company ENI has discovered oil in offshore Angola.
The oil discovery, located in the Afoxe exploration field in Block 15/06, is estimated to contain between 170 million barrels and 200 million barrels of light oil.
“The well was drilled in a water depth of 780m and reached a total depth of 1,723m,” Eni said in a statement.
Four new exploration wells are expected to be drilled through a joint venture between ENI, Angola’s national oil company Sonangol and SSI Fifteen Limited.
Eni has been present in the Angola since 1980 and extracts 150,000 barrels of oil equivalent per day.
Endorsed by the Ministry of Mineral Resources and Petroleum, Africa Oil & Power will organize the first Angola Oil & Gas conference, which will be held on June 4-6, 2019 in Luanda. Registration is now open.