Luanda: The National Agency for Petroleum, Gas and Biofuels (ANPG), Etu Energias, and the partners of Block 2/05 announced the safe and successful completion of drilling, completion, and testing operations of the Espadarte 7ST2 well (ESP 7ST2), located in Block 2/05, in the Lower Congo Basin, Angola. According to Angola Press News Agency, the achievement symbolizes a significant milestone for the maturity and full exploitation of the asset. The extended reach well discovered eight productive intervals, with a total net thickness of 175 feet MD, confirming the presence of good quality reservoirs, with favorable porosity properties (average of 18%, with some areas reaching 25%) and permeability. Initial tests have stabilized production between 2,000 and 2,500 barrels of oil per day, without the presence of water, an indicator that reinforces the viability of its development, in addition to contributing to the optimization of the block's production. For the Chairman of the Board of Directors of Etu Energias, Edson dos Santos, quoted in the report, the success of the ESP 7ST1 well is a strategic milestone for the company and for Block 2/05, particularly as it is the last development area of the block that is now entering production. He mentioned that, as operator, Etu Energias intends to drill one more appraisal well before finalizing the development plan for Grande Espadarte. The B2/02 redevelopment project has already generated more than 300 jobs and an increase in production of more than 20% in the last two years. ETU Energias is the largest Angolan private company in the oil and gas sector, wholly owned by national capital, with a diversified portfolio of operated and non-operated assets, both onshore and offshore in Angola. The company operates the onshore blocks FS, FST, CON-1, CON-2, CON-4, CON-6, and CON-8, as well as the offshore block 2/05, and also holds non-operated stakes in the offshore blocks 3/05, 3/05-A, 4/05, 14, 14K, 14/23, 17/06, and 32.
