From the Field
Sonangol, Eni expand Angola oil block
LUANDA, November 9, 2018 – Eni and Sonangol have signed an agreement to expand Block 15/06 by 400 square kilometres, local media reported Thursday.
The agreement will facilitate the Italian company’s accelerated exploration programme, Macau Hub reported.
“This is in line with Eni strategy to increase exploration activities in the country, chasing opportunities nearby the existing producing hubs,” Eni said in a statement. “In the event of success, this strategy will enable a fast-track development of these new resources, leveraging on synergies with existing infrastructure and significantly reducing their time-to-market.”
Block 15/06, site of the East Hub and West Hub projects, is operated by Eni with a 36.84% stake, and the remaining shares are controlled by Sonangol (36.84%) and SSI (26.32%).