Eni makes significant oil discovery in Ecuador


Eni makes significant oil discovery in Ecuador

Eni has made a significant oil discovery in Ecuador at the Oglan-2 exploration well located in Block 10, approximately 260 kilometers southeast of Quito.

Early estimates suggest that the Oglan discovery potentially contains about 300 million barrels of oil in place.

The well, drilled to a total depth of 6,450 feet, encountered a 236 foot net crude oil column (16° API). During a production test, constrained by surface facilities, the well flowed at 1,100 barrels of oil per day. The data acquired in Oglan well indicate a production capacity per well up to 2,000 barrels of oil per day.

Eni will immediately begin the studies for the commercial exploitation of the Oglan discovery, located just 7 kilometers from the processing facilities of the Villano field, also inside Block 10, which currently produces approximately 12,500 barrels per day, entirely Eni equity. Eni, through its affiliate Agip Oil Ecuador, operates Block 10 since February 2000.

The Oglan discovery is the outcome of Eni’s new exploration campaign, which the company is undertaking as part of its strategy to develop Block 10 under the new Service Contract signed with the Ecuadorian Government in 2010.

Eni has developed significant and successful initiatives to encourage the socio-economic development of the indigenous communities living in the Amazon rainforest, in the health and education sectors. It has a strong record of protecting the sensitive environment and biodiversity, all while carrying on the company’s activities in Ecuador. In particular, Eni has been a pioneer in Ecuador in developing techniques to minimize the impact of its pipelines and production facilities on the environment and has implemented a very comprehensive biodiversity program, in cooperation with local communities, the Ecuadorian State, international scientific organizations specialized in flora and fauna conservation, as well as Ecuadorian academic institutions, making Eni an internationally renowned leader in sustainable development.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs