Italian explorer Eni obtained a three-year extension for block 15/06, offshore Angola, the company announced on 19 January.
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| Image from Eni. |
The license lies approximately 350km northwest of Luanda and 130km east of Soyo town. The original exploration period expired in November and Eni requested an extension in order to complete the exploration activities. Eni says its three-year plan includes the drilling of three wells and shooting 1000sq km of 3D seismic.
Pending success of exploration activities, Eni says any new discoveries can be developed using existing production facilities.
The extension also includes an area adjacent to the block 15/06, which covers the discovery of Reco-Reco, estimated to be about 100 MMbbl of oil in place.
Acquired in 2006, Eni has drilled 24 exploration and appraisal wells in Block 15/06, discovering over 3 billion bo and 850 MMbbl of reserves.
In November 2014, Eni started production at the West Hub Development Project, relative to block 15/06, just four years after the declaration of commercial discovery. Block 15/06 also includes the East Hub Development Project, which is already under development and is expected to start production in 2017.
In 2014, Eni also discovered Ochigufu, with an estimated 300 MMbo, which will be linked to the West Hub in by 2017.
Eni operates block 15/06 with 35% stake. Sonangol EP is the concessionaire. Other joint venture partners include Sonangol Pesquisa e Produção (35%), SSI Fifteen (25%) and Falcon Oil Holding Angola SA (5%).
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