Italy-based oil and gas company Eni has upgraded its resource estimate for the Agogo field offshore Angola to one billion barrels of oil.
The company stated that it has increased the estimate of oil in place by nearly 40% after the successful drilling of Agogo-3, the second appraisal well of Agogo discovery in Block 15/06.
Eni said that the acquired data indicates a production capacity of more than 15,000 barrels of oil per day.
It further stated that there could be a further upside to be tested in the northern sector of the field.
The Agogo-3 well encountered up to 120m of light oil net pay in sandstone of Miocene and Oligocene age. A data acquisition in the well confirmed communication with Agogo-2 reservoirs and the additional extension of the Agogo discovery to the North.
The well was drilled by the Libongos drillship, 1.5km north-west of the Agogo-2 well and 4.5km north-west of Agogo-1 well.
Production from the Agogo field started in January 2020
The field started production in January 2020 with a subsea tie-back to the N’Goma FPSO of Agogo 1 well. This comes nine months after the company discovered it.
Eni operates Block 15/06 with a 36.84% stake, alongside state-owned Sonangol (36.84%) and SSI Fifteen (26.32%).
Eni and its partners are working on studies to exploit the full potential of the Agogo field via a third production hub, targeting a final investment decision in 2021.
Currently, the Italian oil and gas company accounts for an equity-equivalent production of about 140,000 barrels of oil equivalent per day.
Eni also operates block Cabinda Norte, situated onshore Angola.
