Italian oil major Eni Thursday announced a 40% increase of estimated oil-in-place volumes at the Agogo oilfield, offshore Angola, Kallanish Energy reports.

Appraisal well Agogo-3, drilled in Block 15/06, has put the estimated resources at the field at 1 billion barrels with further upside to be tested in the field’s northern sector. It encountered 120 meters net pay of light oil (31° API). So far, the data from the well indicate a production capacity of over 15,000 barrels per day (Bpd).

Production at the field started in January, only nine months after discovery. Eni and its partners Sonangol and SSI Fifteen are studying how best to exploit the full potential of the field through a third production hub. The final investment decision for the full development plan is expected in 2021.

Eni produces around 140,000 barrels of oil-equivalent per day (Boe/d) in Angola, operating both onshore and offshore assets.

This post appeared first on Kallanish Energy News.