Eni To Boost Alaska Production Following Offshore Acquisition

Eni SpA (NYSE: E) said Jan. 3 it plans to boost its total Alaska production following an acquisition offshore the state’s North Slope coast.

The Italian oil major agreed to acquire the assets consisting of 70% working interest plus operatorship in the Oooguruk oil field in the Beaufort Sea about 5 km (3.1 miles) off Alaska’s North Slope coast from an affiliate of Dallas-based privately-held Caelus Energy LLC. The terms of the transaction weren’t disclosed.

Eni already owns the remaining 30% working interest in the Oooguruk oil field, which has been in production since 2008. The company said the acquisition of Oooguruk’s remaining interest provides the addition of 7,000 barrels per day (bbl/d) of oil production and important operational synergies with the nearby Nikaitchuq Field.