Angola
Italian oil company Eni, revealed on tuesday the discovery of a new light oil in Agola’s deep offshore.
With this discovery, up to 250 million barrels of light oil with further upside is expected.
The production is also estimated at 10,000 barrels of oil per day.
According to the company, this operation is the fourth largest commercial discovery since Eni relaunched its exploration project in mid-2018, in Angola.
The Ndungu-1 NFW well is located a few kilometers from Eni’s West Hub facilities, and has been drilled in a water depth of 1076 meters, and it reached a total depth of 4050 meters.
It follows the discoveries of Kalimba, Afoxé and Agogo; the four discoveries altogether is estimated to contain up to 1.4 Billion barrels of light oil in place.
This discovery will however,boost Angola’s oil production and increase the financial wherewithal of a country still dependent on oil, despite efforts to diversify its economy.
Go to video
Nigeria’s Dangote to set up oil trading arm for Lagos mega refinery
02:29
DRC: concern over the potential development of oil drilling
01:06
Algeria hosts key energy summit amidst shifting dynamics
Go to video
Activists urge Nigeria to delay Shell's $2.4 billion sale of assets in deeply polluted Niger Delta
01:13
AFCON 2023: Nigeria edges past Angola, DR Congo triumphs over Guinea in quarterfinals
01:20
Nigeria, Angola gear towards AFCON quarter-finals kick off