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San Donato Milanese (Mi), 17 May 2011 – Eni has signed an agreement with MEO Australia Limited to farm-in to the Heron and Blackwood gas discoveries in the permit NT/P68 in the Timor Sea, northern Australia.
The agreement involves Eni earning 50% in the Heron gas discovery by funding the drilling of two wells in the Heron Area. Eni may withdraw from the agreement after the first well has been drilled.
Eni has a further option to earn 50% in the Blackwood gas discovery by acquiring a minimum of 500 square km of 3D seismic and drilling one well in the Blackwood area.
Eni has a further option to acquire an additional 25% interest in the discoveries by funding the work programme required to reach a Final Investment Decision (FID) in either Heron or Blackwood or both. Once completed Eni would make a one off bonus payment to MEO.
Eni Australia Limited will be the Operator of the permit NT/P68 with a 50% share with its partner MEO Australia Limited.
This agreement represents a significant opportunity in line with Eni’s strategy to increase its business presence in Australia, an OECD country, and the south-east Asian region generally, through organic and acquisitive growth of quick to market hydrocarbon discoveries.
Eni entered Australia in 2000 and is the Operator of the Woollybutt oil field (65% interest), the Blacktip Project (100% interest) and the Kitan Development Project (40% interest) and is a partner in the Bayu Undan gas and condensate field and Darwin LNG (10.99% interest). Eni has interests in 13 exploration permits and production licenses in Australia, Timor-Leste and the Joint Petroleum Development Area (JPDA), 10 of which it operates and covering a total area of about 50,000 square km.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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