Eni acquires 70% and becomes operator of the Oooguruk oil field in Alaska

This acquisition will provide 7.000 barrels of oil a day and will allow significant operational synergies with the nearby Nikaitchuq field

Eni announces to have signed an agreement for the acquisition of 70% of the Oooguruk oil field, in Alaska, by Caelus Natural Resources Alaska LLC. Eni already owns the remaining 30% of the deposit. The agreement is subject to approval by the authorities and certain closing conditions.

The Oooguruk field, located in the Sea of ​​Beaufort about 5 kilometers from the coast of Alaska's North Slope, is being produced by 2008 and the current gross production is about 10.000 barrels of oil per day (bopd) from 25 wells manufacturers and 15 wells for gas and water injectors. The production plants are located on an artificial island, located in just 1,5 meters of depth, with well heads of production on the surface, which guarantee operating conditions in total safety and in respect of the environment, comparable to those of an onshore field. Moreover Eni will be able to leverage on the cooperation and on the excellent relationships existing with the local communities.

Eni is already operator at 100% of the Nikaitchuq field, located about 13 km northeast of Oooguruk. Nikaitchuq is being produced by 2011 and currently produces about 18.000 bopd.

The acquisition of Oooguruk's 70% will allow Eni to immediately increase its production in Alaska of around 7.000 bopd, and to implement important optimizations and operational synergies between Oooguruk and Nikaitchuq, both of which operate at 100%. Eni plans to drill additional production wells at Oooguruk and Nikaitchuq, with the goal of bringing total production to Alaska to over 30.000 bopd. This operation will further strengthen the presence of Eni in the region, following the recent acquisition

carried out in 2018 124 summer exploration licenses (for a total of about 1400 sq. km) located in the eastern part of Alaska's North Slope.

In the United States, Eni holds interests in 21 oil and gas fields, of which 11 operated, with a net daily production of around 60.000 boed. In the Gulf of Mexico and Alaska, Eni holds 228 licenses and has a non-operating stake in Alliance's shale gas field (Fort Worth, Texas).

Eni acquires 70% and becomes operator of the Oooguruk oil field in Alaska

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