ENI Awarded Stake in Block 15 Offshore Angola


Block 15
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ENI was awarded a 35% operating stake in Angola's deepwater Block 15 state-owned oil company Sonangol said on Tuesday. The Sonangol-Sinopec JV also won a 35% stake in the block as well.

Angola is sub-Saharan Africa's second largest crude producer after Nigeria, pumping 1,4-million barrels a day (bpd) and plans to increase production to 2 million bpd by 2008 with the help of billions of dollars of foreign investment.

Sonangol has previously said block 15 has up to 10.4-billion barrels of potential oil reserves.

Irish-based Tullow Oil and Gas Exploration won a 50% stake in shallow water Block 1, while US-based Vaalco Energy won a 40% stake in Block 5.

Brazil's state-owned Petrobras won a 40% stake in Block 6 and 80% in Block 26.

Related Companies
 Company: Petrobrasmore info


 - Petrobras Sees Room For More Efficient Payroll, CAPEX (May 12)
 - Petrobras Eyes Adding Texas, African Assets to Asset Sale Plan (May 10)
 - Exxon, Petrobras Said to Hold Talks on Wide-Ranging Partnership (May 9)
 Company: ENImore info


 - Eni to Build Crude Oil Refinery in Nigeria -Oil Minister (May 9)
 - Eni Shuts Down Oil Center At Major Italy Field After Local Order (Apr 18)
 - Eni Paid No Intermediary, Bribes To Acquire Nigeria Oilfield (Apr 13)
 Company: Sinopecmore info
 - South Africa Wants Sinopec to Retain Refinery Capacity (May 25)
 - China's Unipec Will Keep Reselling Term LNG Cargoes -President (May 17)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 Company: Tullow Oilmore info
 - Tullow Says Promoting CEO To Chairman Best For Company (Apr 26)
 - Tullow Falls To Third Annual Loss On More Exploration Write-Offs (Feb 8)
 - Tullow Finds Oil in Kenyan Erut-1 Well (Jan 17)
 Company: Sonangolmore info
 - US Oil Firm Cobalt Files For Arbitration Against Angola For $2B (May 12)
 - US Firm Cobalt Threatens Arbitration Over Angolan Oil Assets (Apr 3)
 - Angola's Sonangol Cuts Debt, Output To Slip Without Investment - FT (Dec 20)
 Company: VAALCO Energy, Inc.more info
 - VAALCO Updates on Operations at Etame Marin Block Offshore Gabon (Oct 13)
 - First Oil Flows from the North Tchibala Field Offshore Gabon (Sep 17)
 - VAALCO Encounters Disappointment at Kindele-1 Exploration Well Off Angola (Mar 31)
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