Eni to Buy 70 Pct of Oooguruk Oil Field in Alaska

Eni to Buy 70 Pct of Oooguruk Oil Field in Alaska
Παρ, 4 Ιανουαρίου 2019 - 19:58

Eni entered into an agreement to acquire 70 percent and the operatorship of the Oooguruk oil field in Alaska from Caelus Natural Resources Alaska LLC, the company announced Thursday.

According to Eni’s statement, the Italian energy company already owns the remaining 30 percent working interest in the field. The Oooguruk oil field, located in the Beaufort Sea approximately 5 kilometers off Alaska's North Slope coast, has been in production since 2008. The current gross production is approximately 10,000 barrels of oil per day (bpd) from 25 producing wells and 15 gas/water injector wells, Eni said.

According to the press release, Eni is already the operator of the nearby Nikaitchuq oil field with 100 percent working interest. Located approximately 13 km northeast of Oooguruk, Nikaitchuq has been in production since 2011 and currently produces about 18,000 bpd, it said.

According to the statement, the acquisition of 70 percent of Oooguruk will allow Eni to immediately increase its production in Alaska by approximately 7,000 bpd gross, and to "implement important operational synergies and optimizations" between Oooguruk and Nikaitchuq, both operated at 100 percent. Eni plans to drill further production wells at the two fields, with the target to increase its total Alaska production beyond 30,000 barrels of oil equivalent per day.

This operation will further strengthen Eni's presence in the region, after the recent acquisition in August 2018 of 124 exploration leases for a total of approximately 350,000 acres in the Eastern North Slope of Alaska, the statement added. The agreement is subject to the approval of the authorities and to certain closing conditions.

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