Eni starts production from the Kitan oil field offshore Australia and Timor-Leste

San Donato Milanese (Milan), 10 October, 2011 – Eni has started production from the Kitan oil field located  between Timor-Leste and Australia, approximately 240km south of the Timor-Leste capital of Dili and 550km north of Darwin, Australia.

Eni is operator of Kitan with a 40% interest while INPEX Timor Sea (35%) and Talisman Resources (25%) are its partners in the joint venture.

The Kitan field is being produced through deep water subsea completion wells connected to an FPSO (Floating Production Storage and Offloading) facility and is expected to reach peak production of about 40,000 BOPD.

First production commenced within three and half years from the declaration of commercial discovery. The development followed a Fast Track schedule from discovery to production, meeting FID targets for time and budget while maintaining the highest industry standards in health, safety and environment management and with an open and transparent relationship with the stakeholders.

The Kitan start-up further cements Eni’s growth plans in the region in the wake of recent asset acquisitions offshore of Australia, the latest record of important discoveries offshore of Indonesia where Eni plans to replicate the success of Kitan, and the Company’s initiatives in unconventional gas in Indonesia and China.

Eni has been present as an operator in Australia since 2000 and in Timor-Leste since 2006. In Australia, Eni is operator of the Woollybutt oil field, with a 65% interest, and is the 100% owner and operator of the Blacktip Gas Project. Eni also has a non-operated interest in the Bayu-Undan gas and condensate field. Eni has interests in 19 offshore exploration and production licences in Australia, Timor Leste and Papua New Guinea, 15 of which it operates.