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NATURAL RESOURCES

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Eni: new important success in Mozambique, Area 4 potential enhanced further with Mamba North East 1 results

San Donato Milanese (MI), 26 March 2012 - Eni announces a new giant natural gas discovery in Area 4, offshore Mozambique, at the Mamba North East 1 exploration prospect.

The results of this well, drilled in the Eastern part of Area 4, are of special importance since they increase the resource base of Area 4 by at least 10 trillion cubic feet (tcf) of which 8 tcf of these contained in reservoirs exclusively located in Area 4.

This new discovery further improves the potential of the Mamba complex in Area 4 offshore Mozambique now estimated at at least 40 tcf of gas in place.

Mamba North East 1 is located 50 kilometers off the Capo Delgado coast in a water depth of 1,848 meters and reaches a total depth of 4,560 meters. The well was drilled approximately 15 kilometers north east of the Mamba South 1 giant discovery and 12 kilometers south west of the Mamba North 1 giant discovery.
The discovery well encountered a total of 240 meters of gas pay in multiple high-quality Oligocene and Eocene sands and proved reservoir continuity and pressure communication with Mamba South 1 and Mamba North 1 wells.

During 2012 Eni plans to drill at least another four wells in nearby structures to fully assess the upside potential of the Mamba Complex.
Eni is the operator of Area 4 with a 70-percent participating interest. Co-owners in the area are Galp Energia (10 percent), KOGAS (10 percent) and ENH (10 percent, carried through the exploration phase).

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