Eni Continues Success Offshore Indonesia

Eni has successfully drilled the Tulip exploration well (1), located in water depths of up to 800 meters northeast of Kalimantan Island, Indonesia.

The exploration campaign of the Tulip field, in which Eni is operator with a 100% interest, revealed significant oil and gas deposits. The Tulip discovery represents a significant success which rewards Eni's exploration efforts.

In the same area, Eni (operator with a 66.25% interest) and Anadarko Petroleum (33.75%) have also successfully completed an appraisal test of the Aster field, previously discovered by the two companies. The test has shown 28 degree API (2) oil flowing at a maximum rate of over 5,000 barrels of oil per day.

Eni will now submit a Development Plan for the Aster field and start appraising the Tulip discovery. Eni will also assess potential synergies that might support a joint development of the two discoveries.

In Indonesia, Eni has an equity production of 23,000 barrels of oil equivalent per day, is present in ten permits and operates five. The offshore activities are located in the deep waters of Kalimantan basins and north of Sumatra Island. Eni is also active in the areas of Mahakam River and East Kalimantan.

(1) Bukat Area, located in the Tarakan Basin

(2) API: oil density expressed through the formula proposed by the American Petroleum Institute and used in the entire oil industry. The API scale ranges between some 10 degrees (ultra heavy oils) and over 45 degrees (ultra light oils).

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