Eni Makes Deepwater Gas Discovery with Longhorn North

Mississippi Canyon
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Eni has made a new gas discovery with the Longhorn North exploration well, located in the US deepwater of the Gulf of Mexico, 195 kilometers southeast of New Orleans, in Mississippi Canyon Block 502.

Longhorn North, in a water depth of 710 meters, was drilled to a total depth of 3,400 meters and has found gas sands with thickness and production quality higher than expected. The well was drilled by Transocean's semisub, Transocean Amirante.

The present Longhorn North discovery, together with a previous successful well announced in August 2006, confirms the presence of a gas field and Eni is already evaluating possible development alternatives with the aim of reaching an early production start up.

Eni is the opeperator and holds a 100% interest in the Longhorn North well. Eni also holds interests also in other acreages located near the Mississippi Canyon 502 block, where further exploration activities are planned.

In the United States, Eni holds interests in over 250 blocks in the Gulf of Mexico (of which 90% are in deepwater), a primary focus for all the oil majors, and in more than 100 blocks in North Alaska. Eni's current net production from Gulf of Mexico is around 44,000 barrels of oil equivalent per day.

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