Eni Makes Important New Discovery Offshore Congo

Eni has made an important new exploration discovery in the Marine XII Block located approximately 17 kilometers offshore Congo.

The exploration well, Nene Marine 3, which led to the important result, was drilled in a water depth of 28 meters and has encountered a significant wet gas and light oil accumulation in the pre-salt clastic sequence outlining a significant extension to the west of the reservoir and its hydraulic continuity.

Nene Marine 3 is located 2 kilometers from the discovery well Nene Marine 1 and 4 kilometers from Nene Marine 2.

During the production test in the oil interval the well flowed over 5,000 barrels of oil per day at 36° API gravity.

Following the results of the well, Eni estimates that the discovery of Nene Marine field contains 1.2 billion barrels of oil and 30 billion cubic meters of gas in place. The overall potential of the Nene Marine and of the neighboring Litchjendilj Marine fields is estimated in about 2.5 billion barrels of oil equivalent in place.

The block also has a significant additional exploration upside which will be determined by the next exploratory and delineation campaign.

Eni, which holds 65% of the Marine XII Block, quickly activated with the joint venture’s partners New Age (25%) and the national company SNPC (Société Nationale des Pétroles du Congo, 10%) the studies to ensure a rapid commercial development of these significant hydrocarbon reserves with the aim of launching a first oil production from 2016.

Eni has been present in Congo since 1968 and today has an equity production of 105,000 barrels of oil per day in the country. Eni has been present in Sub-Saharan Africa since the 1960s and currently participates in exploration and production projects in Angola, Congo, Ghana, Gabon, Mozambique, Nigeria, Democratic Republic of Congo, Kenya and Liberia. Eni’s current operated production in the region is approximately 450,000 barrels of oil equivalent per day.

Press Release, February 13, 2014

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