Claudio Descalzi, the President of Eni, met Angola’s president Joao Goncalves Lourenco in Luanda (Angola).

The sides discussed Italian major’s participation in the studies and exploration of crude oil and other sector-related projects.

ENI intends to spend billions of dollars in exploration and development of new offshore areas next year.

In addition to that, Eni made a pact with Sonangol to Block 15/06 Production Sharing Contract which determines the new perimeter of the block, now including an additional area of 400 km2 on the west side. The block is located nearly 350 km north-west of Luanda and 130 km west of Soyo in water depths varying between 200 m and 1,800 m. This step goes under Eni’s plan to grow exploration activities in the country by chasing opportunities close to existing producing areas.

Having discovered the Kalimba 1 in June 2018, Eni launched an accelerated exploration program. The company has already begun the drilling activities with a schedule of 4 exploration wells. In case of success, it will make a fast-track development of these new resources possible. Besides, it will allow leveraging on synergies with existing infrastructure and significantly reducing their time-to-market.

Furthermore, new start-up achieved during 2018, and expected in the coming months, will increase production by up to 50 kboed. The production at plateau will expectedly reach a peak of 170 kboed early next year.

The developed fields Sangos, Cinguvu, Mpungi, Ochigufu e Cabaça S.E., are tied back to the 2 FPSO installed in the block, Ngoma and Olombendo. Its overall oil treatment capacity is 200 kbopd. Ngoma and Olombendo FPSO got into production in November 2014 and February 2017 respectively.

Besides that, Eni’s cooperation with Sonangol involves downstream sector activities. Among them are the improvement of the Luanda Refinery efficiency, the support of future plants development, and also gas exploitation and renewable energy projects.

Eni’s background

Eni has been operating in Angola since 1980. Equity production equals to 150,000 barrels of oil equivalent per day. The extension of Block 15/06 contractual area positions Angola as one of the core countries in Eni’s exploration growth strategy.