Eni has made a significant oil discovery in Ecuador at the Oglan-2 exploration well located in Block 10, about 260 km (162 miles) southeast of Quito. Early estimates suggest that the Oglan discovery potentially contains about 300 MMbbl of oil in place.

The well, drilled to a total depth of 1,966 m (6,450 ft), encountered a 72-m (236-ft) net crude oil column. During a production test constrained by surface facilities, the well flowed at 1,100 bbl/d of oil. The data acquired in the Oglan well indicate a production capacity per well of up to 2,000 bbl/d of oil.

Eni will immediately begin the studies for the commercial exploitation of the Oglan discovery, located just 7 km (4 miles) from the processing facilities of the Villano Field also inside Block 10, which currently produces about 12,500 bbl/d.

Eni, through its affiliate Agip Oil Ecuador, has operated Block 10 since February 2000.