Eni Hits Gas and Oil at Skrugard

Italian Eni has announced that it has made a positive discovery for gas and oil following the drilling of an appraisal well at the Skrugard field in the Barents Sea, about 200 kilometres off the coast of Norway.

The well, appraisal well 7220/5-1, was drilled to a total depth of 1,740 metres and encountered a gas column of about 25 metres and an oil column of about 48 metres.

Data has been collected from the well and sampling taken from the well bore, showing a reservoir of excellent quality, Eni says.

"Estimates confirm that Skrugard holds at least 250 million barrels of recoverable oil and approximately 10 billion standard cubic meters of associated and free gas," a statement from the company said.

Eni has a 30 per cent interest in the Skrugard field. Statoil is the operator of the field with a 50 per cent stake, while Petero holds the remaining 20 per cent stake.