By: Energy capital & power

Angolan private energy company Etu Energias has started drilling operations at Block 2/05, situated in the shallow waters of the province of Zaire. The SMS ESSA jack-up rig arrived at the project site on June 25 and began operating on June 27, signaling a vital step towards the redevelopment of the block.

The rig kickstarts an extensive drilling program which includes three development wells, one exploration well and five technical interventions across existing wells. The drilling program aligns with a broader redevelopment strategy at Block 2/05, which features 18 mature fields and lies in the Lower Congo basin.

“The implementation of the project that brings the SMS ESSA Probe to our country is indicative of the potential that Angolan businesspeople have to assert themselves in the oil sector, which is a capital-intensive market with great challenges, but also with great opportunities to generate value and recover the investment made,” stated Paulino Jerónimo, Chairman of Angola’s upstream regulator, the National Oil, Gas & Biofuels Agency.

SMS ESSA is a fit-for-purpose rig which will operate in water depths of 30 meters. The rig will support increased production at the block, aligning with national efforts to boost offshore crude output. The development comes as Etu Energias seeks to increase oil production to 80,000 barrels per day by 2030 through reinvestments in producing assets and exploration across newly-acquired blocks.

“The arrival and entry into operation of the SMS probe represents a strategic investment to increase national crude oil production. This milestone reaffirms the growing technical and financial capacity of Etu Energias and its partners, and demonstrates that we are increasingly prepared to generate value and face the challenges of the sector with confidence,” stated Edson Dos Santos, CEO of Etu Energias.

Block 2/05 is being developed through a consortium led by Etu Energias. Partners include Poliedro, Kotoil, Falcon Oil and Prodoil.