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Exploration and production
Angola: Deep-water gambles pay off for Eni and Total
TWO DEEP-water licences, for which groups headed by Eni and Total paid signature bonuses of $0.902bn and $1.1bn, respectively, in 2006, are living up to their "golden block" reputations. Eni has made its third discovery in licence 15/06, from only four wells drilled, and says the latest could prove to be the largest in the block so far. Meanwhile, Total has made a discovery with the first well in its 17/06 licence. Eni's Cabaça Norte-1 well, drilled in the northeastern part of Block 15/06, found reservoir sands with "excellent" characteristics and tested crude at 6,500 barrels a day (b/d) – the limit of the surface equipment available. Eni said immediately that Cabaça Norte could form the basis of a second production hub in the block and that it will now drill structures nearby. Water-depth at Cabaça ...Click here to continue reading Exploration and production
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