Angola's national oil and gas agency, ANPG, said in a statement on Friday that it had found a new oil discovery in Block 15/06 operated by Azule Energy, a partnership between BP and Eni.
The Algaita-01 well, drilled in the Lower Congo Basin last month, found oil-bearing sandstone, a joint statement from ANPG and Azule said, adding that fluid sampling showed the presence of multiple reservoir intervals with excellent petrochemical properties and fluid mobilities.
"We are proud to achieve another significant result together with our partners and to continue creating opportunities for future growth," Joe Murphy, CEO of Azule Energy was quoted in the statement as saying.
Angola, Sub-Saharan Africa's second-biggest crude oil producer after Nigeria, has undertaken a major regulatory overhaul to encourage exploration investment as it looks to maintain production levels amid mature offshore fields.
In September, Azule executives said they expected to invest another $5 billion in Angola over the next four to five years, drilling multiple wells during that period.
(Reporting by Wendell Roelf; Editing by Kirsten Donovan)
