Eni applies for retention lease over Blackwood gas discovery

Italy’s Eni SPA has applied for a retention lease over its Blackwood natural gas discovery in the Timor Sea.

Until earlier this year the field was part of the MEO Australia Ltd. joint-venture plan to link it and the nearby Heron gas discovery to supply the proposed Tassie Shoals LNG and methanol project. MEO and Eni elected to terminate the venture and Blackwood became wholly owned by Eni as part of the deal (OGJ Online, Feb. 10, 2015; Oct. 16, 2015).

MEO took 100% of Heron, but has since decided to relinquish that field as being too small for its plans. Eni, on the other hand, wants to keep hold of Blackwood, which it says has contingent resources of 542 bcf of gas and 2 million bbl of condensate.

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