ENI APPRAISES MOZAMBIQUE
A group led by Eni SPA has successfully executed the appraisal campaign for the Agulha discover in Area 4 offshore Mozambique, Eni reported.
The Agulha 2 well, which is the twelfth well drilled in Area 4, proved a 25-m gas column in good quality Paleocene reservoir sandstones and confirmed the southern extension of the field.
The delineation was carried out through the Agulha 2 well, which was drilled in 2,603 m of water and reached a total depth of 5,645 m. The well is in the southern part of Area 4 about 12 km south of the Agulha 1 discovery well and 80 km off Cabo Delgado.
Eni is considering further exploration drilling in the southern part of Area 4 after Agulha 2.
Total resources discovered in Area 4 are estimated at 85 tcf of gas in place.
Eni is the operator of Area 4 with 50% indirect interest owned through Eni East Africa, which holds 70% of Area 4. Other partners, each with 10% interest, are GalpEnergia, Korea Gas Corp., and Mozambique's state ENH carried through the exploration phase. China National Petroleum Corp. owns 20% indirect participation in Area 4 through Eni East Africa.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
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