Eni studies Santos gas find

Italy's Eni is appraising a natural gas field in the offshore BM-S-4 block of Brazil's Santos basin, where it reported finding gas in September. According to a report run in the newspaper O Estado de São Paulo, unnamed sources in the company have commented that Eni will decide whether to develop the field after the appraisal is completed.

Offshore staff

(Brazil)-Italy's Eni is appraising a natural gas field in the offshore BM-S-4 block of Brazil's Santos basin, where it reported finding gas in September. According to a report run in the newspaperO Estado de São Paulo, unnamed sources in the company have commented that Eni will decide whether to develop the field after the appraisal is completed.

According to Brazil's hydrocarbons regulator ANP, the 1ENIARJS exploratory well is located at a water depth of 387 meters in a field close to the Mexilhão gas field. Brazilian energy giant Petrobras estimates reserves of 419 bcm of gas in Mexilhão, and Eni is hoping for similar returns in this new field.

The company previously reported gas finds in the block in 2002 and 2003. Eni was awarded an exploratory license in the BM-S-4 block in 1999.

Eni did not expand its portfolio in the Santos region in the seventh hydrocarbons licensing round held in October, but it was awarded a license for an offshore deepwater block in the northeastern Camamu Almada basin.

11/2/2005

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