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Image courtesy of Eni.

Italy’s Eni said Wednesday it discovered an estimated 300 million barrels of oil in place at its Ochigufu 1 NFW deepwater well in offshore Angola.

The well is located in block 15/06 approximately 93 miles off the coast of Angola.

Eni said the well will be brought to production “in record time.”

Eni expects production capacity to reach more than 5,000 barrels of oil per day.

The well hit a net oil pay of 154 feet with “very good” petrophysical properties.

The well was directionally drilled by the Ocean Rig Poseidon Drilling Unit in a water depth of 4,386 feet and reached a total depth of 14,665 feet.

The well is located about 6 miles from the Eni operated Ngoma FPSO.

Eni is evaluating an early tie-in to the 100,000 bpd capacity Ngoma FPSO.

Oghigufu is the tenth commercial oil discovery made in block 15/06.

Eni is operator of the block 15/06 with a 35 percent stake.

Angola’s Sonangol P&P holds a 30 percent stake, Angola-based SSI Fifteen Limited holds a 25 percent stake, Angola-based Falcon Oil Holding holds a 5 percent stake and Norway’s Statoil holds a 5 percent stake.