NEWS BULLETIN

February 09, 2011 --- Vol. 17, No. 13February 2011

Eni brings Nikaitchuq online

Eni Petroleum has started production from its Nikaitchuq unit on Alaska’s North Slope.

The Italian company made the announcement from its Milan headquarters this morning.

Eni expects the nearshore field to produce for 30 years, peaking at 28,000 barrels per day, and estimates the field contains some 220 million barrels of recoverable reserves.

Eni is in the early stages of a 52-well development plan at Nikaitchuq. The company said it has already drilled 12 wells and expects to finish the rest by 2014. Eni is drilling those wells from a combination of onshore and offshore drilling sites. Some of the extended reach wells are designed to run 4,000 feet vertically and up to 20,000 feet horizontally.

Nikaitchuq is only the second North Slope unit not operated by BP or ConocoPhillips.

See story in Feb. 13 issue, available online to subscribers by 11 a.m., Feb. 11, at www.PetroleumNews.com


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