Eni Turns on the Taps at Three Deepwater Gas Fields

Eni has started production from three new gas fields located in the eastern Gulf of Mexico deepwater, approximately 290 kilometers southeast of New Orleans. The three fields, which are among the GoM assets acquired earlier this year from Dominion, are "San Jacinto" (in block DC 618), "Spiderman" (DC 620) and "Q" (MC 961).

The three fields have been developed as subsea tiebacks to the Independence Hub platform, which is the world's deepest platform at approximately 2,400 meters of water depth.

Eni has a 53.3% working interest and is the operator of the "San Jacinto" field which began production in late September, a 36.7% working interest in the "Spiderman" field operated by Anadarko (which also began production in mid September) and a 50% working interest in the StatoilHydro operated "Q" field, brought on production in October. Eni's current daily net production from these three fields is approximately 26,000 barrels of oil equivalent.

The Atwater Valley Producers Group (Anadarko, Eni, Devon and StatoilHydro) and two midstream companies (Enterprise and Helix) cooperated on a deepwater hub and export pipeline system to serve stranded gas production from the area where the threeEni fields are located.

Eni owns lease interests in 439 GoM blocks, 72% of which are in deepwater, and was the apparent high bidder in additional 26 leases at the Lease Sale 205 held on October 3, 2007.

In the USA, Eni is present in the GoM, where it is among the leading producers with a daily net production of approximately 110,000 barrels of oil equivalent (60% operated), and in Alaska, where it owns interests in 158 blocks on the North Slope.