Eni Awarded 18 Exploration Licenses in Alaska

Eni has been awarded 18 exploration leases in the northern offshore of Alaska, at Lease Sale 193 held in Anchorage on February 6, 2008. The acquisition is subject to the approval of local authorities.

The blocks are located in the Chukchi Sea, in water depths ranging from 30 to 50 meters, approx. 170 from shore. This area, although under-explored, possesses a high exploration potential, as evidenced by the fierce competition which took place at the lease sale, among several oil majors. Out of the 18 leases for which Eni was the highest bidder, 14 were joint bids with Statoil-Hydro and the remaining 4 were 100% Eni.

With this operation Eni continues its expansion in Alaska, increasing its position as a major player in the arctic area, where it can leverage its experience and technological know-how.

In Alaska, Eni owns 158 leases in the North Slope, and recently started the development of the Nikaitchuq oil field, its first project as an operator in the region. In the United States, Eni also owns lease interests in 404 Gulf of Mexico (GoM) blocks, 70% of which are in deepwater. Eni is among the leading GoM producers with a current daily net production in excess of 110,000 barrels of oil equivalent, of which 60% is operated.