ENI Awarded Stake in Block 15 Offshore Angola

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.

Company: Petrobras more info
Operates 33 Offshore Rigs
Manages 6 Offshore Rigs
 - Petrobras To Invest 137 Million Reais Iin Sao Paulo Refinery (Mar 08)
 - Petrobras Chief Says US Refinery Sale Ongoing, No Plans To Build Elsewhere (Mar 05)
 - Petrobras to Sell Pasadena, Texas, Refinery (Feb 06)
Company: ENI more info
Operates 12 Offshore Rigs
 - Eni Promises Richer Returns After Exploration Success (Mar 16)
 - Egypt's Potential Gas Surplus Could Feed Global LNG Glut (Feb 20)
 - Egypt With Eni to Fast-Track Zohr Gas Output, Minister Says (Jan 31)
Company: Sinopec more info
 - China's Domestic LNG Plants Reopen After Shutdowns As Heating Crisis Eases (Feb 28)
 - Lead a Chinese Oil Giant and Get a Fraction of Your Peers' Pay (Dec 27)
 - Report: Quarter Of Oil Refineries Risk Closure Under Climate Goals (Nov 02)
Company: Tullow Oil more info
Operates 1 Offshore Rigs
 - UK's Tullow Oil Names New Head Of Ghana Operations (Feb 15)
 - Ivory Coast Awards Tullow Two New Oil and Gas Blocks (Jan 17)
 - UK's Tullow Oil Lifts Outlook On Higher Crude Prices, Output (Nov 08)
Company: Sonangol more info
 - Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources (Oct 09)
 - US Oil Firm Cobalt Files For Arbitration Against Angola For $2B (May 12)
 - US Firm Cobalt Threatens Arbitration Over Angolan Oil Assets (Apr 03)
Company: VAALCO Energy, Inc. more info
 - VAALCO Agrees to Acquire Sojitz's Stake in Etame Marin Permit Off Gabon (Aug 02)
 - VAALCO Updates on Operations at Etame Marin Block Offshore Gabon (Oct 13)
 - First Oil Flows from the North Tchibala Field Offshore Gabon (Sep 17)
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