Eni Announces Major Oil Find in Angola's Algaita-01
- Algaita-01 well was spudded on 10 January 2026.
- The well is located 18 km from Olombendo FPSO.
- Oil in place is estimated at 500 million barrels.
- Block 15/06 is operated by Azule Energy, SSI, and Sonangol E&P.
Discovery Details
Eni has confirmed a significant oil discovery in the Algaita-01 exploration well, located in Block 15/06, offshore Angola. The well is situated approximately 18 km from the Olombendo FPSO. Preliminary estimates suggest the presence of around 500 million barrels of oil in place.
Drilling Information
The Algaita-01 well was spudded on 10 January 2026 and drilled by the Saipem 12000 drill ship in a water depth of 667 metres. The well encountered oil-bearing sandstones in multiple Upper Miocene intervals, which are characterized by excellent petrophysical properties.
Data Acquisition
A comprehensive data acquisition campaign, including fluid sampling, confirmed the quality of the reservoir and the fluid characteristics. The presence of existing nearby production infrastructure enhances the value of the discovery and improves its development prospects.
Partnership and Operations
Block 15/06 is operated by Azule Energy, which holds a 36.84% stake, in partnership with SSI (26.32%) and Sonangol E&P (36.84%). Azule Energy is equally owned by Eni and bp, highlighting the strength of its upstream portfolio in Angola.
Source: Eni