Most Read

  • We Will Rock You tour of SA postpones to 2022
    Showtime Management and international partner Selladoor Worldwide have postponed the South African tour of the We Will Rock You musical to 2022. South Africa is currently in its third wave of Covid-19 infections and, as such, the government has implemented precautions that only allows for a total audience of 100 people.
  • 6 critical PoPIA compliance steps to take before 1 July
    The eleventh hour is upon businesses who are not Protection of Personal Information Act (PoPIA) compliant. The effective date of 1 July is upon us. By Rian Schoeman
  • #YouthMatters: Leigh-Anne Salonika, founder of OnlyKind
    From East London to some of South Africa's most storied agencies. After winning on global stages and achieving what she set out to on the inside of the corporate advertising machinery, Leigh-Anne Salonika is living her purpose, and in doing so working with brands to unlock theirs By Evan-Lee Courie
Show more
Business services


More...Submit news
Advertise on Bizcommunity

Subscribe to industry newsletters

Eni makes light oil find in Angola's Cuica prospect

A new light oil resource with a size estimated between 200- and 250-million barrels of oil has been discovered in Block 15/06 offshore of Angola.
Image: Daewoo Shipbuilding & Marine Engineering
Italian exploration company, Eni, said it had encountered an 80-metre total column of reservoir of light oil (38°API) when a deviated well drilled in the Cuica-1 NFW prospect by the Libongos drillship reached a total vertical depth of 4,100 metres. The discovery well is going to be sidetracked updip to be placed in an optimal position as a producer well. Data indicates an expected production capacity of around 10,000 barrels of oil per day.

Cuica is the second significant oil discovery inside the existing Cabaça development area and close to the FPSO Armada Olombendo (East Hub). The wellhead location, intentionally placed close to East Hub’s subsea network, will allow a fast-track tie-in of the exploration well. Production is expected to start within six months.

This is the first commercial discovery in block 15/06 since the Covid-19 pandemic and the oil price drop last year.

The company has received a three-year extension for the exploration period of block 15/06 until November 2023.

The Block 15/06 Joint Venture consists of Eni (operator, 36.8421%), Sonangol P&P (36.8421%), and SSI Fifteen Ltd (26.3158%).

Read more: Discovery, Angola, ENI



Let's do Biz