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NATURAL RESOURCES

Eni successfully appraises Agulha discovery, in Mozambique Area 4

San Donato Milanese (Milan), 22 May 2014 – Eni has successfully executed the appraisal campaign for the Agulha discovery, located in Area 4 offshore Mozambique.

The delineation was carried out through the Agulha 2 well, which was drilled in water depth of 2,603 metres and reached a total depth of 5,645 metres. The well is located in the southern part of the Area 4 Block, approximately 12 kilometres south of the Agulha 1 discovery well and 80 kilometres off the Cabo Delgado coast.

The Agulha 2 well, which is the twelfth well successfully drilled in Area 4, proved about 25 meters of gas column in good quality Paleocene reservoir sandstones and confirmed the southern extension of the field.

Eni is considering further exploration drilling in the southern part of Area 4 after Agulha 2.

Total resources discovered in Area 4 are estimated at approximately 85 Trillion cubic feet of gas in place.

Eni is the operator of Area 4 with a 50% indirect interest owned through Eni East Africa, which holds 70% of Area 4. The other partners are GalpEnergia (10%), KOGAS (10%) and ENH (10%, carried through the exploration phase). CNPC owns a 20% indirect participation in Area 4 through Eni East Africa.

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