Eni Reports Major Oil, Gas Find Offshore Congo

Eni Reports Major Oil, Gas Find Offshore Congo

Italy's Eni reported Thursday that it has made a major oil and gas discovery at its Nene' Marine exploration prospect, which is located in the Marine XII Block offshore Congo.

Eni estimates the volume of the discovery proved with the two wells so far drilled on the prospect at approximately 600 million barrels of oil with 700 billion cubic feet of gas. The firm said the structure has "considerable additional upside" that it plans to evaluate with further wells.

The discovery was made through the Nene' Marine 1 well, which has been drilled in 79 feet of water to a depth of 9,945 feet. The well encountered a significant wet gas and light oil accumulation in the pre-saline clastic sequence of Lower Cretaceous age.

Eni said the Nene' Marine 2 well, drilled a mile-and-a-half away from the discovery well, confirmed a significant hydrocarbon accumulation and the continuity of the reservoir. During production tests both the wells flowed at a commercial rate with 37-degree API gravity.

Eni is the operator of Marine XII Block with a 65-percent stake.



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