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Eni announce two major offshore discoveries in two days

14/03/2019
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Italian oil & gas company Eni have announced two discoveries from their exploration projects this week. 

The Scarabeo-9 was instrumental in Eni's discovery of a 90 metre gas column in the Eastern Egyptian Mediterranean
(Image via Wikimedia)

Agogo, Angola oil find

On Wednesday the company revealed a major oil find from the Agogo exploration project, located in Block 15/06 offshore Angola. 

Approximately 180km off the coast, the Agogo-1NFW well was drilled by the Poseidon drillship in a water depth of 1636 metres to a total depth of 4450 metres. It proved a single oil column of around 203 metres with 120 metres of net pay high quality oil with excellent petrophysical properties. 

The discovery is estimated to contain between 450 and 650 million barrels of light oil in place with further upside.

The well is located around 20km west of the N’Goma FPSO hub. The discovery is being appraised, so that development can be fast tracked. It’s thought that the project could have a production capacity of more than 20,000 barrels of oil per day.

Eni say that the discovery was achieved with their advanced proprietary seismic imaging technologies, and opens up new opportunities for oil exploration below salt diapirs in the north-west part of Block 15/06, with new chances for unlocking additional potential value. 

Nour, Egypt gas find

Eni’s second announcement came a day later, on Thursday 14th March, when they revealed a new gas discovery in the Nour prospect, offshore Egypt.

Located in the Nour North Sinai Concession, about 50km North of the Sinai peninsula in the Eastern Egyptian Mediterranean, the find was led by the Nour-1 New Field Wildcat (NFW). 

The Scarabeo-9 semi-sub drilled in a water depth of 295 metres to reach a total depth of 5,914 metres to discover 33 metres of gross sandstone pay with good petrophysical properties and an estimated gas column of 90 metres in the Tineh formation of Oligocene age. 

The well has not yet been tested, though Eni say an intense and accurate data acquisition has been carried out. A production estimation has not yet been revealed.

Feasibility studies in order to accelerate the exploitation of these new resources will start after the discovery evaluation is finalised.

Eni is the operator of both finds. The Angolan Agogo oil find is part of the Block 15/06 joint venture, owned by Eni (36.8421% stake), Sonangol P&P (36.8421%) and SSI Fifteen Ltd (26.3158%). The Nour find is in participation with Egyptian Natural Gas Holding Company (EGAS) with contractor share owned by Eni (40% stake), BP (25%), Mubadala Petroleum (20%) and Tharwa Petroleum Company (15%).

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Tags: Oil & Gas
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