Eni hits pay off Angola

ENI HAS MADE a major oil discovery in the Cabaca South East-1 well drilled in Block 15/06, 100 km off Angola.

The well drilled in 470 m of water intercepted 450 m of oil pay, block partner, Petrobras said in a statement.

Initial assessments indicate at least 500 mn barrels of oil in place, the Brazilian national oil company said.

Eni holds a 35 per cent working interest in the concession, awarded by Songangol E&P.

Junior partners in the Eni-led joint venture include other Sonangol units as well as divisions of Total, Petrobras Energia and Statoil.

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