Eni SpA (E), Italy's biggest energy company by market value, said Tuesday it has made a new oil discovery in offshore Angola Block 15/06 with Sonangol, adding it confirms the block's "high mineral potential."
In a statement, Eni said the discovery well Ngoma-1 is located about 350 kilometers from Luanda and will be followed by other exploration wells.
The Rome-based company has a 35% stake in the block and operates it. The remaining stake is owned by Sonangol, SSI Fifteen Ltd., Tepa (Block15/06) Total, Falcon Oil Holding Angola SA, Petrobras International Braspetro BV and Statoil Angola Block 15/06 Award AS.
Eni's current daily equity production in Angola is about 130,000 barrels of oil equivalent.