Eni announces a new oil discovery in the Afoxe exploration prospect, located in Block 15/06 offshore Angola.

Eni announced Monday a new oil discovery in the Afoxe exploration prospect, located in Block 15/06 offshore Angola.

The discovery, which was made through the Afoxe-1 NFW well, is estimated to contain between 170 and 200 million barrels of light oil in place, according to Eni.

Afoxe-1 NFW is situated in the south-east area of Block 15/06, approximately 12 miles west of the Kalimba-1 discovery, which Eni announced back in June. Afoxe-1 NFW was drilled in a water depth of 2,559 feet and reached a total depth of 5,652 feet.

Eni is planning to drill up to four new exploration wells back-to-back in Block 15/06 during 2019, the company revealed Monday.

“Eni is committed to developing this discovery leveraging its best-in-class time-to-market, whilst at the same time launching an intense exploration campaign that will fully support the company’s mid-term organic growth in the country”, Eni CEO Claudio Descalzi said in a company statement.

Eni has been present in Angola since 1980. Block 15/06 is developed by a joint venture formed by Eni, which holds a 36.84 percent operated interest, Sonangol P&P, which also holds a 36.84 percent interest, and SSI Fifteen Limited, which holds a 26.32 percent stake.

The Kalimba-1 find is estimated to contain between 230 and 300 million barrels of light oil in place, Eni revealed in a company statement on June 25.

In October, Eni announced an oil discovery in the western Barents Sea within license PL 532. Preliminary estimates of the size of the discovery range between 50 and 60 million barrels of oil in place, according to Eni.

The company has also made two oil discoveries within the Faghur basin in the Egyptian Western Desert during 2018. The first of these was announced by the company in May, and the second in July.





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