Eni has made a new light oil discovery in Block 15/06, offshore Angola, close to its existing infrastructure.
As with the global industry, African exploration and production plans hit the COVID-19 and oil price-crash roadblock.
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
Further success at Angola’s Agogo field by Eni has seen the estimated oil in place figure rise to 1 billion barrels.
Eni’s Agogo field has begun producing, a statement from Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has said.
Angolan production has continued to decline, falling to 1.284 million barrels per day in November, making the government’s efforts to overhaul its energy sector and attract new investment ever more important.