Kissanje and Dikanza Fields Start Production Ahead of Schedule

The Kissanje and Dikanza fields in deepwater offshore Angola started production in July, largely ahead of schedule. The two fields, about 350 kilometers from the capital Luanda, will reach a production of 250,000 barrels of oil per day by the end of 2005, 45,000 of which will be net to Eni.

Kissanje and Dikanza fields are part of the Kizomba B project and are located in the Block 15 in a water depth of approximately 1,000 meters. Eni participates in the project with a 20% working interest. The other partners are ExxonMobil (operator, 40%), BP (26.67%) and Statoil (13.33%).

Overall investment amounts to US$ 3.5 billion (Eni equity US$ 700 million) and total reserves amounting to 1 billion barrels of oil will be developed (180 million barrels of oil net to Eni).

A fixed platform and subsea wells linked to a FPSO (1) vessel will be employed to develop the project. Oil treatment and storage will be done in the FPSO vessel.

"Kizomba B" is the third project to be developed in the Block 15 after Xikomba start-up in 2003 and Kizomba A start-up in 2004. The three projects will allow overall production of approximately 550,000 barrels of oil per day by the end of 2005, with 100,000 barrels per day net to Eni.

"I am very pleased with this result, achieved ahead of schedule"- Paolo Scaroni, CEO of Eni commented -. "With the Kissanje and Dikanza fields on stream, Eni consolidates its growth in Angola where we are forefront in deepwater production and where we'll reach important levels of production".

Eni has been present in Angola since early 1980s both in exploration activities and in production ones. In 2004 Eni reached a production of 78,000 barrels of oil per day, while the expected production, by the end of 2005, from all the blocks where Eni is present, will be approximately 140,000 barrels per day.