• Natural Gas News

    Eni Builds up Alaskan Position

Summary

The area is oil prone but near resources that could supply Alaska LNG.

by: William Powell

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Complimentary, Natural Gas News, Americas, Corporate, Exploration & Production, News By Country, United States

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.

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.