Eni announces a significant hydrocarbon discovery in the UK sector of the Central North Sea

San Donato Milanese (Milan), 10 March 2011 Eni announces that the appraisal well 22/25a-10z on the Culzean structure has confirmed the presence of a significant Hydrocarbon Accumulation.

The well was drilled in the UK sector of the Central North Sea, in 89m of water depth, to verify the discovery extension and test Hydrocarbon deliverability.

Gas and Condensates have been confirmed at an average depth of c.4.5km, within the target reservoirs of Triassic and Jurassic age.
The well has been tested, and delivered a (constrained) rate of nearly 40 MMscf/d of gas in addition to 900 Bbls/d of good quality condensates (45° API).

Culzean already represents one of the most significant and promising discoveries made in recent years in the UK sector of the North Sea. It is foreseen that its development will generate material production in the coming years.

Following the discovery well (22/25a-9z) drilled in 2008, the JV has planned a significant appraisal campaign, in order to properly assess the full size and potential of Culzean in view of its development. Further delineation activities are planned during 2011 to fully assess the Culzean structure.

The Joint Venture consists of Maersk Oil as Operator with a 49.99% Participation Interest; Eni UK, 16.95%; JX Nippon UK, 17.06% and BP, 16.00%.

Eni has been present in the UK since 1964. In 2009, Eni’s equity production in the country amounted to 104 kboe/d.

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