Eni Norge Moves Forward on Development Design for Goliat

Eni Norge, the operator of the Goliat license (PL 229/PL 229B), has agreed with its partners to continue the development plans of the Goliat discovery with an offshore floating processing and storage unit with subsea wells. The selected solution is evaluated as the best technical and economical option of the studied alternatives. The offshore processing and storage unit is also the most effective solution with regard to tie-in of possible future discoveries in the area.

Since the award in 1997, the license has been through a long phase of exploration and evaluation of development options for the Goliat discovery. The concept selection is therefore an important milestone in the overall project schedule.

The project is now entering the pre-qualification phase for the selected concept. During this phase, the partnership will select contractors for the Goliat Development Project Design Competition FEED* studies. It is expected that the selected contractors will be announced within first quarter 2008.

The current plan is to submit a Plan for Development and Operation by the end of 2008 with a corresponding Parliament approval in the spring session of 2009.

Eni Norge is well aware of the responsibility to execute an environmentally sustainable project that could secure value creation and meet regional and national expectations, and at the same time create positive spin-off effects in Finnmark and Northern Norway.

Eni Norge has already announced that all shore-based support for the future Goliat operations will be proposed to be located in Hammerfest. All base functions for supply services, helicopter services, maritime and other service functions will be managed from Hammerfest.

Eni Norge's operating organization for Goliat will also be proposed to be located in Hammerfest. This includes the administrative, economical and technical functions. The recommended solution is expected to have a positive impact on the local job market in Hammerfest and the Finnmark region.

The licensees in production licence 229/229B are: Eni Norge AS (operator) with 65%, StatoilHydro ASA with 20% and Det norske oljeselskap ASA with 15%.