ENI ACQUIRES EGYPT
Eni SPA will resume exploration offshore Egypt under concession agreements based on production sharing it has signed covering two deepwater blocks offered in Egyptian Natural Gas Holding Co.'s 2013 bid round.
Eni subsidiary IEOC is operator.
The company holds 100% of the North Leil block, covering 5,105 sq km in 2,050-3,000 m of water about 170 km offshore.
It holds 50% of the Karawan block, which covers 4,565 sq km in 1,200-2,200 km of water about 107 km offshore. BP PLC holds the remaining interest.
The Karawan block is adjacent to the west of the North Leil block and adjacent to the east of the Shorouk block, which Eni acquired last year.
Royal Dutch Shell PLC drilled a dry hole on the Karawan block in 2001 and a dry hole on the North Leil block in 2007.
Eni has worked in Egypt since 1954. It has interests in about 210,000 boe/d of Egyptian production.
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