Showing posts with label North Leil License. Show all posts
Showing posts with label North Leil License. Show all posts

Monday, January 9, 2017

Eni furthers Mediterranean exploration - OIL & GAS JOURNAL

01/09/2017
Houston, by OGJ editors

Eni SPA is advancing exploration in the Mediterranean in the Contract Area D offshore Libya. The company spudded its B1-16/3 well on Jan. 4 in 518 ft of water about 140 km northwest of Tripoli and 5 km north of Bahr Essalam gas field. The 9,865-ft well’s primary objective is the Metlaoui group reservoir, the company said. Drilling is expected to take 64 days.

Eni was granted the license by Libya National Oil Corp. in June 2008.

Eni late last month signed concession agreements for the North El Hammad and North Ras El Esh exploration blocks in the Egyptian Mediterranean. Both shallow-water blocks were awarded in the 2015 Egyptian Natural Gas Holding Co.’s (EGAS) international bid round (OGJ Online Oct. 12, 2015).

The two agreements follow the recently awarded blocks of Southwest Meleiha (in the Western Desert), Shorouk, Karawan, and North Leil (in the deep water of the Egyptian Mediterranean).

North El Hammad lies west of the Abu Madi West and Baltim-Baltim South development areas, where Eni recently made the Nooros discovery, which has been in production since August 2015 (OGJ Online, Sep. 12, 2016).

Eni is the operator of the North El Hammad block with an equity of 37.5% in participation with BP PLC, who has a 37.5% stake, and Total 25%. Eni holds 50% interest in North Ras El Esh block, which is operated by BP with 50%.

SOURCE

Tuesday, December 27, 2016

Eni Wins Twin Exploration Block License in Offshore Cyprus - ZACKS EQUITY RESEARCH / NASDAQ

December 27, 2016, 09:16:00 AM EDT
By Zacks Equity Research, Zacks.com

Eni SpA E recently gained two exploration blocks offshore Cyprus, in the competitive international bid round "3rd Licensing Round." We expect these developments to result in stock price appreciation. Year to date, the stock has gained 6.9%, while the Zacks categorized sub industry Oil & Gas- International Integrated Market has increased by 19%.

Eni will be the operator of Block 6 with 50% interest, while the balance will be held by partner, Total SA TOT . Eni will acquire a 100% stake in Block 8.

Eni's successfully explored areas in the neighboring Egyptian offshore, including the Zohr massive gas field, which have geological similarities with these newly awarded areas.