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Italian oil company Eni announces new discovery in Angola

Italian oil company Eni announces new discovery in Angola

The Italian oil company Eni SpA said Friday that it has made an important new oil discovery off the coast of Angola as it seeks to increase its production in the West African nation.
Eni, which entered Angola in 1980, is a 20 percent shareholder in Block 14, where the discovery was made about 200 kilometers (120 miles) northwest of the capital Luanda. Other shareholders are Cabinda Gulf Oil Company with 31 percent, Sonangol with 20 percent, Total with 20 percent and Galp with 9 percent.
The discovery was made after drilling to a depth of more than 3,340 meters (two miles). An exploration well will be drilled and geological studies under taken to help evaluate the reserves, Eni said.
Eni aims to increase its daily production from 160,000 to 200,000 barrels a day through development of deepwater projects, the company said.


Updated : 2021-05-07 08:59 GMT+08:00