CP, Eni and BG Hit It Big in North Sea

Eni reported that it has made a new gas and condensate discovery in the Central North Sea offshore UK.

The 30/6-7 exploration well has confirmed the presence of hydrocarbons in a new location approximately 3 kilometers to the northeast of the Jasmine gas and condensate discovery well (30/6-6) which was drilled in 2006. The Jasmine Field straddles blocks 30/6 and 30/7a at a water depth of approximately 81 meters.

A flow test to gather dynamic information on the reservoir will be shortly carried out. The joint venture formed by Eni UK Limited (33%), ConocoPhillips Petroleum Company U.K. Limited (36.5%, operator) and BG International Limited (30.5%) will use the results from the test and the future appraisal drilling to evaluate the potential development of the discovery.

The new discovery will likely be developed together with the Jasmine Field and tied back to the existing Judy production facility (Eni share: 33%), located approximately 9 kilometers east of the new discovery.

Eni has been operating in the UK since 1964. In 2007, Eni's net equity production in the region reached 124,000 barrels of oil equivalent per day.