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 Raises Asset Sale Goal To $21B For 2017-2018 Period (Mar 22)
 - Petrobras Resorts To Top Court To Free Divestment Plan (Mar 17)
 - CFO: Brazil's Petrobras Confident Accounting Practices Correct (Mar 8)
 Company: ENImore info


 - Nigerian Court Overturns Seizure Of Oilfield From Shell And Eni (Mar 17)
 - Zohr to Start Gas Production This Year (Mar 15)
 - ExxonMobil Agrees to Buy 25% Stake in Mozambique's Area 4 Block (Mar 9)
 Company: Sinopecmore info
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 - China's Sinopec Close To Snapping Up Chevron's South African Oil Assets (Mar 17)
 - Aramco's Malaysia Deal Gives Saudis Upper Hand In Fight For Asia Oil Share (Feb 28)
 Company: Tullow Oilmore info
 - Tullow Falls To Third Annual Loss On More Exploration Write-Offs (Feb 8)
 - Tullow Finds Oil in Kenyan Erut-1 Well (Jan 17)
 - Tullow's Founder Heavey to Step Down as CEO (Jan 11)
 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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