Two more oil fields discovered on Block 15/06 offshore Angola

An Eni-led consortium has discovered two more oil fields offshore Angola on Block 15/06. Both Nzanza and Cinguvu are located in waters measuring 1,400 meters deep about 350 kilometers northwest of Luanda.

Exploration well Nzanza-1 discovered oil with an API of 18 degrees. Production tests of the well flowed oil at a rate of 1,600 barrels of oil a day.

Another discovery on the block, Cinguvu-1 tapped oil with an API of 18 degrees. The production test on the Cinguvu discovery well flowed at a maximum rate of 6,400 barrels of oil a day.

Block 15/06 has already proven quite prolific with previous discoveries that include Cabaca Norte-1, Sangos-1 and Ngoma-1 -- and more exploration wells are scheduled to be drilled in 2010.

Currently, there is one production hub planned for Block 15/06. Producing oil from the Sangos and Ngoma oil fields, the Northwest Hub has entered the pre-development phase. A second production hub is also under consideration to bring subsequent discoveries into production.

Awarded in 2006, Angolan Block 15/06 is operated by Italian major Eni, which holds 35 percent interest. Partners on the block include SSI Fifteen Limited with 20 percent; Sonangol and Total (TOT) with 15 percent each; and Falcon Oil, Petrobras (PBR) and Statoil (STO) with 5 percent each.



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