Offshore staff

MILAN, Italy -- Eni has won a license for exploration block S-M-857 offshore Brazil. The block, part of the international tender promoted by the Brazilian government, lies in the Santos basin at 1,750 m (5,742 ft) water depth.

Block S-M-857 attracted strong international competition, which the company believes confirms the exploration potential of the license. Block S-M857 is in the Santos basin, which is currently one of the most prolific in Brazil. In the same area, Eni completed the Belmonte 1 discovery well at the end of last year.

Next year, Eni plans to drill two wells in Belmonte to complete the evaluation portion of the project before proceeding with development.

Eni holds three other exploration permits in Brazil.

12/05/2006