Eni Hits Oil in Ochigufu Well (Angola)

Eni has made a new oil discovery in Block 15/06, in the Ochigufu exploration prospect, in deep water offshore Angola. Oghigufu is the 10th commercial oil discovery made in Block 15/06. The new discovery is estimated to contain 300 million barrels of oil in place.

Ochigufu 1 NFW well, which has led to the discovery, will be brought into production in record time. The well is located at approximately 150 kilometers off the coast and 9.8 kilometers from the Ngoma FPSO (West Hub) and the closeness to Ngoma FPSO allows the increase of the resource base of the West Hub project, currently underway. The well was drilled by the Ocean Rig Poseidon Drilling Unit in a water depth of 1,337 meters and reached a total depth of 4,470 meters.

Ochigufu 1 NFW was directionally drilled in order to reach the targets in optimal position and proved a net oil pay of 47 meters, (34° API) contained in the Lower Miocene and Oligocene sandstones with very good petrophysical properties. The data acquired in Ochigufu 1 well indicate a production capacity equal to more than 5,000 barrels of oil per day.

Claudio Descalzi, Eni’s CEO, said: “This important discovery, which will be brought into production in record time, adds even more value to Block 15/06. Like the recent discoveries in Congo and Gabon, this new find exemplifies the results we can achieve by applying leading edge technologies to exploration, and substantiates the decision to refocus Eni on key oil and gas competences”.

Studies are underway in order to evaluate an early tie-in to the Ngoma FPSO, already in location in the West Hub and designed to handle 100,000 barrels of oil production per day.

Eni is operator of the Block 15/06 with a 35% stake. The other partners of the Joint Venture committed to the block are Sonangol P&P (30% stake), SSI Fifteen Limited (25% stake), Falcon Oil Holding Angola SA (5% stake) and Statoil Angola Block 15/06 (5% stake).

Press Release, September 17, 2014