Eni awarded a new oil exploration license in the Barents Sea

Source: Eni

Eni has been awarded a new exploration license (PL657) in the Barents Sea, located just east of the Goliat Field, also operated by Eni.

The license has been awarded by the Norwegian Ministry of Petroleum and Energy as part of the 2011 APA ("Awards in Predefined Area") to the Joint Venture consisting of Eni (operator with 80%) and Petoro (with 20%).

The area of the license covers 431 square kilometres in a water depth ranging from 400 to 450 metres. If the exploration is successful, the development site would benefit from the vicinity of the Goliat Field, therefore minimizing the time to market.

This new license further consolidates the leading position of Eni, together with Statoil, in the Barents Sea. In 2013, Eni will be the first Operator to produce oil from the region with production commencing at the Goliat oilfield. Eni will also be the only company, together with Statoil, to be involved in the recent Skrugard and Havis oil commercial discoveries.

By applying proprietary technologies for more than 20 years Eni is now successfully pursuing activity in the Barents Sea, where it is a pioneer in exploration.

Eni has been present in Norway since 1965, and currently produces around 135,000 barrels of oil equivalent a day.


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