Angop - Agência de Notícias Angola Press

Oil well with over 150 million barrels discovered

Wed, 15 May 2019 10:05 - Economy

Luanda - A new oil well, with an estimated to contain up to 250 million barrels of light oil of high potential in place was discovered in Block 15/6 in Angolan offshore, announced the National Agency of Petroleum, Gas and Biofuels ( ANPG) and the Italian multinational ENI.

The well that led to the discovery was drilled in the Ndungu exploration prospect in Angola's deep waters, according to a note from ANPG that ANGOP had access to on Tuesday.

The Ndungu-1 NFW well is located approximately 130 kilometers from the coast, about 10 kilometers northwest of the FPSO of N'goma - west pole 9 and about 2 km from the Mpungi production field (FPSO is a floating production storage and offloading  unit).

Drilled by the Poseidon drillship, the well is 1,076 meters deep and reaches a total depth of 4,050 meters.

Data from the Ndungu-1 well indicates a production capacity for the well flow of more than 10,000 barrels per day.

 According to the ANPG, the same well represents the first major oil discovery made in Angola within an already existing development area.

 It also confirms the importance of the recent legislative opportunity, with the publication of Presidential Legislative Decree No. 5718, of May 18, 2018, which establishes the legal regime on research activities within the areas of development.