Eni Strikes Oil Offshore Angola

Eni and Sonangol have discovered an oil accumulation in the Cabaca South East-1 well in Block 15/06, located offshore Angola. The well, located at a depth of 1,542 feet (470 meters), reached its multi-targeted objective in the deepest levels of Miocene age, where oil-bearing reservoirs, with a total of 1,476 feet (450 meters) of gross thickness, were proven. Reportedly, preliminary evaluations indicate that the discovery holds material volumes of oil in place of high quality; and the discovery confirms the potential for a second productive hub in the northeastern area of the block. Current engineering studies and activities prior to the development of West Hub will provide guidance for a second production center, East Hub, which will double production from Block 15/06. Serving as operator of the block is Eni, holding a 35% working interest. Other partners in the block are Sonangol Pesquisa e Producao (15%), SSI Fifteen Limited (20%), Total (15%), Falcon Oil Holding Angola SA (5%), Petrobras International Braspetro B.V. (5%) and Statoil Angola Block 15/06 Award AS (5%).

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