Eni has announced a major oil discovery following the successful drilling of the Algaita-01 exploration well in Block 15/06 offshore Angola.
The well is located approximately 18 km from the Olombendo FPSO, with preliminary assessments indicating oil in place of around 500 million barrels.
Drilling operations began on 10 January 2026 using the Saipem 12000 drillship in water depths of 667 metres. The well intersected multiple oil-bearing sandstone intervals within Upper Miocene formations. These reservoirs have been described as having strong petrophysical characteristics, supporting their commercial potential. An extensive data gathering programme, including fluid sampling, confirmed both reservoir quality and favourable fluid properties.
The proximity of established production facilities, including the Olombendo floating production, storage and offloading unit, strengthens the economic case for development. Access to nearby infrastructure is expected to shorten development timelines and optimise capital expenditure, improving the overall viability of bringing the resource on stream.
Block 15/06 is operated by Azule Energy, which holds a 36.84% interest, in partnership with SSI (26.32%) and Sonangol E&P (36.84%). Azule Energy is jointly owned by Eni and bp, and the latest find further reinforces the consortium’s upstream position in Angola.
The discovery highlights the continued exploration potential of Angola’s offshore basins, particularly within mature producing blocks where near-field opportunities can deliver material additions to reserves. By leveraging existing infrastructure and technical expertise, operators are increasingly able to unlock value from adjacent prospects while maintaining cost discipline.
Looking ahead, appraisal activities will likely focus on refining reserve estimates, evaluating development concepts and assessing tie-back options to current facilities. If progressed efficiently, the Algaita-01 discovery could contribute meaningfully to Angola’s medium-term production outlook, supporting national revenue generation and strengthening the country’s role as a key hydrocarbon producer in sub-Saharan Africa.
