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


 - Brazil's Petrobras Breaks Drought In LatAm Market (Jan 9)
 - Brazil's Petrobras, Joint Venture Hand Back Piracuca Oil Concession (Jan 3)
 - Brazil's Petrobras Finalizes Sale of Nansei Sekiyu for $165M (Dec 29)
 Company: ENImore info


 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Eni: Oil, Gas Discovery in Norwegian Sea (Jan 17)
 Company: Sinopecmore info
 - China's Sinopec Weighs Takeover Of Gulf Keystone (Dec 13)
 - Sao Tome To Terminate Oil Block With Sinopec-Sonangol Joint Venture (Dec 7)
 - China Oil Output Drops To 6-Year Low As State Giants Shut Fields (Sep 13)
 Company: Tullow Oilmore info
 - Tullow Finds Oil in Kenyan Erut-1 Well (Jan 17)
 - Tullow's Founder Heavey to Step Down as CEO (Jan 11)
 - Total's Uganda Expansion 'Significantly De-risks' Project Sanction (Jan 10)
 Company: Sonangolmore info
 - Angola's Sonangol Cuts Debt, Output To Slip Without Investment - FT (Dec 20)
 - Sao Tome To Terminate Oil Block With Sinopec-Sonangol Joint Venture (Dec 7)
 - Analyst: Angolan Gas Discovery Has At Least Decade Before it Comes Online (Nov 11)
 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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