ENI Acquires a Prospective Exploration Area Onshore Alaska

Source Press Release
Company ENICaelus Energy LLC 
Tags Asset Deals, Deals, Exploration, Upstream Activities
Date August 29, 2018

Eni announces the acquisition of 124 exploration leases (for a total of approximately 350,000 acres) onshore in the Eastern North Slope of Alaska from Caelus Alaska Exploration Company, LLC.  Eni will hold all the leases with a 100% working interest.

The “Eastern Exploration Area” (EEA) is located to the South-East of the giant Prudhoe Bay oil field, close to existing infrastructures and to the Trans-Alaska Pipeline System (TAPS) and is approximately 20 miles to the South-East of the town of Deadhorse.

The EEA is considered a prime area with high potential and multiple proven plays, between two of the largest hydrocarbon discoveries in North America (Prudhoe Bay and Point Thompson). Eni will apply its business model and experience through a fast-track exploration with a short time to market of the potential new discoveries, aimed at generating long-term value for all stakeholders and shareholders.  Eni has already achieved a prime position in the North Slope of Alaska and this new acquisition will further strengthen its presence in one of most prospective oil-prone areas in the US.  

In the United States, Eni is present in 21 oil and gas fields (11 operated) with a net daily production of approx. 60,000 barrel of oil equivalent per day (boed). In the Gulf of Mexico and in Alaska  Eni holds 109 leases, and has a non-operated participation in the Alliance field (shale gas, near Fort Worth - Texas). In Alaska,  Eni is the operator with 100% of the Nikaitchuq field and has a 30% participation in the Oooguruk field, with a total net production of approx. 20,000 boed.

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