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Eni Awarded Five Offshore Blocks in Gulf of Mexico

Source: www.gulfoilandgas.com 3/22/2013, Location: North America

Eni was the highest bidder in five offshore exploration blocks within the Central Gulf of Mexico Lease Sale 227 that took place in New Orleans.

The blocks are located in Mississippi Canyon and Desoto Canyon in water depths from 1,400 feet (around 400 meters) to 8,000 feet (around 2500 m) and they consolidates Eni’s acreage position in two key areas in the Gulf of Mexico where the company currently holds a total of 174 exploration leases.

Eni’s high bids are subject to final approval by the local authorities. In the USA, Eni owns lease interests in 281 blocks in the Gulf of Mexico and is one of the leading producers in the area. Eni’s total USA daily net production is currently around 88,000 barrels of oil equivalent, over 60% of which are operated by the company.

Eni is also present in Alaska, where it owns interests in 111 onshore and offshore leases in the North Slope and where is the operator of the Nikaitchuq oil field. In 2009, Eni signed an agreement with Quicksilver Resources, an independent US producer of natural gas, and has a 27.5% participating interest in the development of the “Alliance‘ area, which produces non-conventional gas from the Barnett Shales within the Fort Worth basin in Texas.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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