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http://www.redorbit.com/news/business/1374081/large_oilfield_discovered_in_angola

Large Oilfield Discovered in Angola
Posted on: Wednesday, 7 May 2008, 06:00

SAN DONATO MILANESE [Milan] - Eni, together with Angolan oil company Sonangol, discovered a very large and productive oil well off the Atlantic coast of Angola. The well is in the deep waters of the 15/06 Block, some1350 meters underwater and 350 kilometres north of the capital of Angola, Luanda.

Few companies have the experience and the technology necessary to reach an oilfield hidden under waters so deep. The exploration drill Sangos Uno found a "formation" of highly permeable sand impregnated with oil. During the production test, the drill extracted crude of a very high quality (classified 29 gravity degrees on the API scale) and in quantities more relevant than expected.

The size of the oilfield and the preliminary results "exceed preliminary estimates," was said at the company of San Donato Milanese [Headquartes of ENI], "and represent a solid basis for immediately starting specialty studies finalized at accelerating the development of the oilfield."From the upper level of the oilfield it is possible to extract 20 thousand barrels a day and this considerable amount can be multiplied by drilling more wells.

Eni possesses the largest share of the oilfield with 35 per cent of the stake while smaller participations are held by Sonagol, Ssi Fifteen, Tepa, France's Total, Falcon, the Brazilian company Petrobas and Norway's Statoil.