Eni confirmed a major oil discovery at the Algaita-01 exploration well in Block 15/06, offshore Angola.
Preliminary assessments indicate approximately 500 million barrels of oil in place.
The well was spudded on 10 January 2026 and drilled to a water depth of 667 metres using the Saipem 12000 drillship.
The exploration encountered oil-bearing sandstones in multiple Upper Miocene intervals featuring high-quality petrophysical properties.
It is situated roughly 18 kilometres from the existing Olombendo FPSO (Floating Production Storage and Offloading unit). This proximity to established infrastructure is expected to lower capital expenditure and accelerate the timeline for development.
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Partnership Structure,
Block 15/06 is operated by Azule Energy, a 50/50 joint venture between Eni and bp. The partnership interests are:
Azule Energy (Operator): 36.84%
Sonangol E&P: 36.84%
SSI: 26.32%
Note by Alessandro Bazzoni