By Antonia Di Lorenzo 
 

Eni SpA (ENI.MI) said Thursday that the first appraisal well drilled at Block 15/06, offshore Angola, has confirmed the presence of 650 million barrels of oil.

The Italian oil-and-gas company said the Agogo-2 well was successfully drilled at the block, which is part of the Agogo discovery, and indicated further upside potential.

The company said the well is some three kilometers from the Agogo-1 discovery well. Eni said Agogo-2 found a net 58 meters of light oil, confirming the extension of the Agogo reservoir to the north of the discovery.

Data acquired by the Agogo-2 well suggests a daily production capacity of over 15,000 barrels of oil a day.

Eni operates Block 15/06 as part of a joint venture alongside Sonangol P&P and SSI Fifteen Ltd. Eni and Sonangol each hold stakes of 36.84%, while SSI holds a 26.32% stake.

 

Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com; @AntoniaDL89

 

(END) Dow Jones Newswires

July 25, 2019 10:02 ET (14:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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