Fossil Energy – Oil Discovery
Eni confirms an oil discovery in the Algaita-01 exploration well in Block 15/06, offshore Angola, approximately 18 km from Olombendo FPSO.
Preliminary estimates indicate oil in place of around 500 million barrels.
The Algaita-01 well, spudded on 10 January 2026, was drilled by the Saipem 12000 drill ship in a water depth of 667 metres. The well encountered oil-bearing sandstones in multiple Upper Miocene intervals, characterised by excellent petrophysical properties.
A comprehensive data acquisition campaign, including fluid sampling, confirmed the quality of the reservoir and the fluid characteristics.
The presence of existing nearby production infrastructure further enhances the value of the discovery and improves its development prospects.
