Italian oil company Eni has updated the resource base of the Ndungu field, from 800 million to 1 billion barrels/day, higher than initial estimates of 250 to 300 million barrels, Angop has leant.
According to data provided by PetroAngola – provider of information on oil, gas and renewable energies, these updates make the Ndungu field, together with Agogo, the biggest discovery ever made in Block 15/06, since its award.
The field is located about 130 kilometers off the coast and 10 kilometers from the Production, Storage and Offloading Unit (FPSO) Ngoma in the West Hub of Block 15/06, in Angola.
Ndungu 2 appraisal well was drilled 5 kilometers from the Ndungu 1 well and reached 40 meters of Net Oil Pay (35°API) in the Lower Oligocene reservoirs with good petrophysical properties, confirming hydraulic communication with the discovery well.
Intensive data acquisition was carried out to assess the full potential of the discovery, according to the publication, with production from the Ndungu field having started in February last year, through a production well.
According to the publication, a second development well is planned for the fourth quarter of this year, maximising the use of existing facilities at the West Hub. On the other hand, valuations will continue to optimise returns and minimise risk.
The Ndungu field was the first major oil discovery in Angola within an existing development area, certifying the concrete validity of recent legislation, promoted through Presidential Legislative Decree nº 5/18 of May 18, 2018, which defines a framework favorable legal framework for additional exploration activities within existing development zones.
The Ndungu discovery came two months after Eni made a major deepwater oil discovery in Angola, a discovery that could help the country reverse the continuing decline in oil production.
Eni Angola operates block 15/06 with a 36.84% stake, in partnership with Sonangol Pesquisa e Produção (36.84%) and SSI Quinze Ltd. (26.32%).
In addition to Block 15/06, the Italian oil company Eni operates in the exploration blocks Cabinda Norte, Cabinda Centro, 1/14 and 28, as well as the Novo Consórcio de Gás (NGC), with non-operated stakes in blocks 0, 3/05, 3/05A, 14, 14 K/A-IMI, 15 and in the Angola LNG project.
According to the document that was available, the increase in estimates of the resources of the Ndungu field further expands the portfolio of the Azule Energy joint venture, which combines the portfolios of Eni and BP in Angola.
The consortium will be able to rely on a solid base of new projects, including Agogo, Ndungu and PAJ in Blocks 15/06 and 31 respectively, as well as the NGC gas projects, boosting oil and gas exploration and production activities.