Eni makes new oil discovery in the Timor Sea

abarrelfullabarrelfull wrote on 23 Jul 2012 09:14

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10 March 2008

Eni has made a new oil discovery in the Timor Sea, in an area jointly administered by Timor-Leste and Australia. The exploration well Kitan-1, located in the permit JPDA 06-105 some 500 km off the Australian coast, was drilled to a total depth of 3,568 meters and highlighted a significant presence of hydrocarbons.

Eni is the operator (40%) in the permit JPDA 06-105, with Inpex (35%) and Talisman Resources (JPDA 06-105) Pty Limited (25%) as joint venture partners. Initial test results indicate a flow rate of 6,100 BOPD. The data will now be interpreted to assess the potential dimension of the discovery.

This discovery reinforces Eni's presence and growth potential in the region. The company has a 10.99% stake in the producing Bayu-Undan gas/condensate field and related LNG facilities, a 100% stake of the Blacktip gas field, which is currently under development and a 80% stake in 5 exploration blocks administered by Timor-Leste, located between the southern coast line of Timor-Leste and the northern boundary of the Joint Petroleum Development Area. Eni has been operating in Australia since 2000 and in Timor-Leste since 2006.

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