Eni has announced the successful award of a new Production Licence, resulting from an application made in the 32nd UK Offshore Licensing Round.
The Licence, named P2511, covers an area of approximately 340 square kilometres and is located approximately 250 kilometres offshore of the UK in the Northern North Sea in water depths ranging from 100 to 130 metres.
It is situated near the UK/Norwegian border where several significant discoveries were recently made.
The Licence has an Initial Exploration Term of six years. Eni UK will assume the role of operator with a 100 per cent participating interest.
Through the Licence participation, Eni renews its commitment to the valorisation of resources in the UK sector of the North Sea where the company has been operating for over 50 years.
Eni has been present in the UK since 1964 and is currently active in the exploration and production sector, with a production of 55 Kboed as well as in the gas and power and refining and marketing and chemicals sectors.
In October 2020, Eni secured a carbon storage licence in the Liverpool Bay area of the East Irish Sea.