Eni (NYSE: E) reported Tuesday that it has won a new production license in the U.K. sector of the North Sea.
Secured via the 32nd U.K. Offshore Licensing Round, the P2511 license encompasses approximately 131 square miles (340 square kilometers) some 155 miles (250 kilometers) offshore in the Northern North Sea, Eni noted in a written statement emailed to Rigzone. The company added the license sits near the U.K./Norwegian border – home to several recent “significant” discoveries – at water depths ranging from 328 to 427 feet (100 to 130 meters).
According to Eni, P2511 includes an initial exploration term of six years. Eni UK will operate the license with a 100-percent participating interest, the firm added.
To contact the author, email mveazey@rigzone.com
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