Eni buys Oooguruk operatorship

Kay Cashman

Petroleum News

Eni has entered into an agreement with Caelus Natural Resources Alaska to acquire 70 percent and operatorship of the near-shore Oooguruk oil field, west of the central North Slope.

The Milan-based major already owns a 30 percent working interest in Oooguruk.

The deal gives Eni 7,000 barrels of oil per day and allows it to “implement important operational synergies and optimizations” with its nearby Nikaitchuq field, which produces 18,000 bpd.

Eni says it plans to drill more production wells at Oooguruk and Nikaitchuq, with a “target to increase its total Alaska production” to more than 30,000 bpd.

The buyout of Oooguruk by Eni was initially reported as a well-founded rumor in Petroleum News’ Aug. 19 issue, supported by Eni CEO Claudio Descalzi saying at a 2018-21 strategy meeting that the company is doing well in Alaska and has plans for increased investment.

The agreement is subject to the approval of the regulatory authorities and to unnamed closing conditions.

Eni, which holds 228 leases in Alaska, bought 124 eastern North Slope exploration leases (350,000 acres) in August from Caelus.

Both Oooguruk and Nikaitchuq were originally identified and pursued by Eni’s former partner, Armstrong, with Oooguruk coming online in 2008 and Nikaitchuq in 2011.

- KAY CASHMAN