Skrugard appraisal well in Barents Sea successful

Eni reports the successful completion of Skrugard appraisal well 7220/5-1 in the Barents Sea 200 km (124 mi) offshore Norway.

Offshore staff

SAN DONATO MILANESE, Italy –Eni reports the successful completion of Skrugard appraisal well 7220/5-1 in the Barents Sea 200 km (124 mi) offshore Norway.

The well, in 399 m (1,309 ft) of water, reached TD of 1,740 m (5,709 ft) and encountered a gas column of 25 m (82 ft) and an oil column of 48 m (157 ft) in the Middle-Lower Jurassic Stø and Nordmela formations.

Estimates confirm thatSkrugard holds at least 250 MMbbl of recoverable oil and approximately 10 bcm (353 bcf) of associated and free gas. Together with the Havis field, discovered at the beginning of this year 7 km (4.3 mi) southwest Skrugard in the PL532 license, recoverable oil reserves are now more than 500 MMbbl.

A new exploration campaign in the PL532 license is scheduled to start by the end of this year and will lead to the drilling of new wells aimed at confirming additional hydrocarbon volumes to be linked to the production hub.

Eni holds a 30% interest in the Skrugard and Havis fields. The other partners are Statoil Petroleum AS, which is the operator with a 50% interest, and Petoro (20%).

3/06/2012

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