Eni Builds up Alaskan Position
Italian explorer Eni has acquired 124 exploration leases for a total of 350,000 acres onshore in the eastern North Slope of Alaska from Caelus Alaska Exploration Company, it said late August 29. Eni will hold all the leases with a 100% working interest.
The area is southeast of the giant Prudhoe Bay oil field, close to existing infrastructure, and 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." These are among the sources of the gas that will be needed if Alaska LNG is ever developed.
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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."
Eni operates the Nikaitchuq field with 100% and has a 30% participation in the Oooguruk field, with a total net production of about 20,000 barrels of oil equivalent/day.