Gas Condensate Discovery In North Sea For Eni

Eni has discovered a gas condensate field in the Central North Sea. The field, located on the boundary of blocks 30/6 and 30/7a, is approximately nine kilometres west of the existing Judy development, in water depths of up to 81 meters.

Following the initial exploratory well, drilled earlier this year, a sidetrack well confirmed the presence of substantial commercial hydrocarbon reserves. The joint venture, which includes Eni UK Limited (33%), operator ConocoPhillips (36.5%) and BG Group (30.5%), will develop the field after the evaluation of the well results.

Eni has been operating in the United Kingdom since 1964 with 2005 net hydrocarbon production averaging 145,000 boe/day. Eni's principal producing assets in the United Kingdom are the Elgin/Franklin (Eni's interest 21.87%), MacCulloch (40%) and Andrew (16.21%) fields, and fields located in the Liverpool Bay areas (53.9%), the Flotta Catchment area (20%) and in the J-Block (33%).

In 2005 these fields accounted for 77% of Eni's production in the United Kingdom. Development activities in the region included: (i) the start-up of the Farragon field (Eni's interest 30%); (ii) linkage of the gas and condensate Glenelg (Eni's interest 8%) and West Franklin (Eni's interest 21.87%) fields to the Elgin Franklin production platform.

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Added to site on 11/09/06

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