Eni Starts Up Offshore Gas Production from the Tuna Field in Egypt

The field will produce 4.5 million scm/day of gas which will contribute about 8,500 boe/day to Eni’s equity share production.

Eni has started gas production from the Tuna field, within the Temsah Concession, which is located in the Mediterranean off the coast of Egypt. By the end of its ramp-up period in September, this project will produce 4.5 million scm/day of gas which will contribute about 8,500 boe/day to Eni’s equity share production.

The project consists of a new 4 leg platform in approximately 80 meters of water, three producing wells and 14 Km of 24″ pipeline connecting to existing infrastructure.

Eni owns a 50% participating interest of the Temsah concession through its fully owned affiliate IEOC, with the remaining 50% owned by BP. Petrobel, a joint operating company equally owned by IEOC and EGPC, is the operator of the Tuna project.

Eni’s activities in the Temsah concession, one of the most prolific in Egyptian waters with a total production in excess of 170,000 boe/d, continue with an important ongoing campaign of infill drilling in Temsah Field and the development of the Denise B field, which is expected to come into production in 2011. Since 2009 the Temsah Concession has benefited from improved contractual terms.

The development of this project is further evidence of Eni’s commitment to Egypt and in particular to its contribution to meeting increasing domestic gas demand by exploring and developing the still substantially untapped gas resources in the Mediterranean..

Eni is the largest foreign energy player in Egypt. The company’s oil and natural gas equity production averaged approximately 230,000 barrels of oil equivalent per day in 2009. Eni operates in Egypt through its wholly owned subsidiary the International Egyptian Oil Company (IEOC), which directly carries out exploration activities and participates in Joint Venture partnerships and Joint Venture companies.

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Source: Eni, July 19, 2010