Petroleum Africa
Find us on: 
Tuesday, January 20, 2015
ENI received a three-year extension to its exploration period on Block 15/06 from the Angolan authorities. The original exploration period expired in November 2014 and the Italian firm requested an extension in order to complete the exploration activities. Over the next three years the company envisages the drilling of three wells and the acquisition of 1,000 sq km of 3D seismic.
Should the exploration activities be successful, any new discoveries can be developed quickly using existing production facilities.
The extension also includes an area adjacent to the Block 15/06 which covers the discovery of Reco-Reco, estimated to be about 100 million barrels of oil in place. Synergies with existing infrastructure will enable production in this area to begin quickly.
“The extension of the exploration period of Block 15/06, which includes the Reco-Reco discovery, recognizes ENI’s ability to successfully fulfill the role of operator, one which requires both technological innovation and a high level of operational efficiency. Furthermore, it marks an additional success for ENI in Angola,” CEO Claudio Descalzi said.
In Block 15/06, acquired in 2006 following an international bid round, ENI has drilled 24 exploration and appraisal wells, discovering over 3 billion barrels of oil in place and 850 million barrels of reserves.
On November 30 last year the company saw first production at the West Hub Development Project, relative to block 15/06, just four years after the declaration of commercial discovery. Block 15/06 also includes the East Hub Development Project, which is already under development and is expected to start production in 2017. In 2014, the company also discovered Ochigufu, with an estimated 300 million of barrels of oil in place, which will be linked to the West Hub by 2017.
ENI is operator of Block 15/06 with a 35% stake and Sonangol EP is the concessionaire. The other partners in the joint venture are SonangolPesquisa e Produção (35%), SSI Fifteen Ltd. (25%), and Falcon Oil Holding Angola SA (5%).
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
