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flag Eni and bp found 500 million barrels of oil in Angola, potentially tied to existing infrastructure to cut costs.

flag Eni has confirmed a major oil discovery in Angola’s Block 15/06, with the Algaita-01 well estimating 500 million barrels of oil in place. flag Drilled 18 kilometers from the Olombendo FPSO in 667 meters of water, the well hit multiple oil-bearing sandstone layers with strong reservoir quality. flag The find, part of a mature basin with existing infrastructure, offers a potential tie-back to reduce development costs. flag Operated by Azule Energy—a 50/50 joint venture between Eni and bp—the discovery supports Angola’s efforts to reverse declining output and strengthens Eni and bp’s focus on near-field, capital-efficient projects. flag Further appraisal is ongoing to finalize recoverable volumes and development plans.

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