Eni makes major oil find with Mpungi-1 in deepwater Angola

By Phaedra Friend Troy

Italian major Eni (NYSE:E) has struck oil again on Block 15/06 in the deepwaters offshore Angola. Mpungi-1 is the seventh oil discovery on this prolific block.

Located 120 kilometers offshore Angola, the Mpungi-1 discovery well is situated on Block 15/06 in waters measuring 1,050 meters deep. Drilled to a total depth of 1,300 meters, Mpungi-1 transected oil in both the Upper and Middle Miocene sand reservoirs.

Despite being limited by surface facilities, the production tests on Mpungi-1 produced light oil at a flow rate of more than 6,000 barrels per day.

The seventh commercial discovery on Block 15/06 in Angola, Mpungi-1 helps to solidify the block’s potential for development. The six other discoveries on the block include Cabaca Norte, Cabaca South East, Sangos, N’Goma, Nzanza and Cinguvu.

Eni serves as the operator of the block with 35 percent interest. Sonangol is the concessionaire. Partners include Sonangol with 15 percent; SSI Fifteen with 20 percent; Total with 15 percent; and Falcon Oil, Petrobras, and Statoil with 5 percent each.

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