Eni has made a discovery that is estimated to contain up to 250 million barrels of light oil place, with upside potential, at the Ndungu exploration prospect offshore Angola, the company said May 14.
Located in Block 15/06 near Eni’s West Hub facilities, the Ndungu-1 NFW well proved a 65-m oil column with 45 m of net pay in Oligocene sandstones with excellent petrophysical properties, Eni said in a news release.
“Being located about 2 km from the Mpungi Field, the new discovery can be fast-tracked to production due to the proximity to the subsea production system,” Eni said. “Production will be routed to the N’goma FPSO, therefore extending the West Hub’s production plateau.”
The company believes a production capacity of more than 10,000 barrels of oil per day is possible based on intensive data collection.
The well was drilled by the Poseidon drillship in a water depth of 1,076 meters and reached a total depth of 4,050 m.
The discovery marks for the fourth commercial find since Eni, the operator, and its Block 15/06 joint venture partners Sonangol P&P and SSI Fifteen Ltd. relaunched the Block 15/06 exploration campaign in mid-2018, Eni said. Other discoveries are Kalimba, Afoxé and Agogo. Combined, the four finds bring the estimated barrels of light oil in place up to 1.4 billion barrels, according to Eni.
The company said appraisal of the discoveries will target more upside.
Recommended Reading
McKinsey: Shale Poised for Big Role in Long-term LNG Demand
2023-09-28 - A global LNG supply gap will begin to open up in the 2030s, according to a McKinsey & Co. analysis but the U.S. might lose its competitive edge if red tape, particularly around pipeline permitting, isn't addressed.
What's Affecting Oil Prices This Week? (Sept. 25, 2023)
2023-09-25 - For the upcoming week, Stratas Advisors expects oil prices to be under pressure and may test $90 again, with the price of Brent not able to break through $95 last week.
Exclusive: EQT CEO on Unleashing the U.S. LNG Sector [WATCH]
2023-09-25 - In this Hart Energy LIVE Exclusive interview, EQT CEO Toby Rice describes what unleashing the U.S. LNG sector would look like.
Chart Talk: Global Oil Prices on a Massive Upward Trend
2023-09-24 - Oil prices for select global crudes are on a massive upward trend with $100/bbl just out of reach, according to data from General Index, a tech-native benchmark provider, and analysts say the prices prices are driven by OPEC+’s decision to extend production cuts.
Sempra Infrastructure Receives FERC Approval for Port Arthur LNG Phase 2
2023-09-22 - Phase 2 of Sempra Infrastructure’s Port Arthur LNG would add two liquefaction trains with an LNG liquefaction capacity of 13 mtpa.