Eni Confirms Potential of Goliat Field in Barents Sea

Eni is successfully continuing its exploration campaign in Barents Sea deepwater. The well 7122/7-3 has confirmed the potential of the Goliat field, located 85 km northwest of Hammerfest, Norway.

The well drilled to a total depth of 2,701 meters in 343 meters of water has found a total hydrocarbon thickness of 180 meters. Operations in Goliath field are managed by Eni (operator, 65%), Statoil (20%) and DNO (15%).

Following this successful exploration phase, Eni will perform a re-evaluation the Goliat area with the aim to start the commercial development of the field in full accordance with technical and environmental requirements. More drilling is scheduled for 2006.

Eni's exploration and production activities in Norway began in 1964 with first production occurring in 1971 when partnering in the Ekofisk field. Eni's current production of oil and gas in Norway is 140,000 barrels of oil per day (boed).

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