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Eni makes a new offshore oil and gas discovery in the Norwegian Barents Sea

San Donato Milanese (Milan), 2 May 2014 – Eni has made a new offshore oil and gas discovery in the Norwegian Barents Sea, approximately 230 km from Hammerfest.

The well 7220/7-3S is located 6 kilometers south of the Johan Castberg area on the Drivis Prospect in the PL532 license. It was drilled in approximately 345 metres of water and reached a total depth of 2,097 metres.

The well has confirmed a hydrocarbon column of about 154 meters in Jurassic sandstone. Oil Volumes in place are estimated at between 125 million and 140 million barrels. The discovery is part of Eni’s joint venture exploration activity to develop the Johan Castberg field.

Statoil is the operator of production license PL532 with a 50% stake; the remaining shares are held by Eni Norge AS (30%) and Petoro AS (20%).

Eni has been present in Norway since 1965, with current production standing at approximately 115000 boe per day through its subsidiary Eni Norge AS. Eni is operator of the ongoing development of the first oil field in the Barents Sea, the important Goliat discovery, and of the Marulk gas field in the Norwegian Sea. Furthermore, in Norway Eni has interests in the country in a number of exploration licenses and fields under development and in operations including Ekofisk, Norne, Åsgard, Heidrun, Kristin, Mikkel and Urd.

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