Italian multinational Oil and Gas Company, Eni, has initiated the first oil production from its offshore project in Angola, Creamer Media reported.

The upstream project dubbed ‘The West Hub Development Project’, located in Block 15/06 is currently producing 45 000 barrels per day and could see a high of 100 000 bopd, according to Eni.

Block 15/06 is situated 350km northwest of Luanda and 130km west of Soyo – Eni won international bids in 2006 and began drilling 24 successful exploration wells which revealed 3 billion barrels of oil and 850 million reserve barrels – a large commercial opportunity, Eni said in a statement.

Claudio Descalzi, chief executive officer of Eni said in a statement:

‘The start-up of the West Hub in Angola is a milestone in Eni’s upstream activities. Starting from an extraordinary exploration success we have achieved an industry-leading time to market of only 4 years from the declaration of commercial discovery.

‘This result reflects a new, modular, development model which adds value to our strategy of organic growth. The start-up of the West Hub is also significant in terms of Eni’s presence in Angola, where are again operator of a major producing project’.

Eni has a 35% share in Block 15/06 and is assured that the new development of the ‘East Hub Development Project’ will push the daily output to 200 000 barrels per day by 2017.

(Pic Credits: businessgreen)