Eni has started production at its Agogo oil field offshore Angola at 10,000 barrels per day, state news agency Angop reported late on Jan. 16, and output is expected to double in the coming months.
The Agogo field was Angola’s largest offshore discovery in years and could help slow years of production declines in Africa’s second-biggest exporter.
Eni, which has been in Angola since 1980, will be the operator of the field with a 36.8% stake, the same as Angola’s state-owned Sonangol. SSI Fifteen Ltd. has 26.3%.
Angola, a member of OPEC, is a key location for the Italian state-controlled oil company.
Whiting Petroleum, an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum, two people familiar with the matter told Reuters.
Ventana Partners retained RedOaks Energy Advisors for the sale of nonoperated properties located primarily in the Delaware Basin.
Nichols Brothers retained Continental Energy Advisors for the sale of operated assets in New Mexico, Oklahoma and Texas as part of a Chapter 11 bankruptcy.