Eni has acquired 124 onshore exploration leases in the US state of Alaska from Caelus Alaska Exploration for an undisclosed price.


Image: The Italian energy company will hold 100% working interest in all the leases. Photo courtesy of Vlado/FreeDigitalPhotos.net.

The Italian energy company will hold 100% working interest in all the leases which are located in the Eastern North Slope of Alaska. The leases are spread across nearly 350,000 acres, located some 32km to the South-East of the Deadhorse town.

Eni said that the Eastern Exploration Area (EEA), in which the acquired acreage is contained, is located to the South-East of the Prudhoe Bay oil field. The acreage is also located near existing infrastructures and to the Trans-Alaska Pipeline System (TAPS).

The Italian firm said that the EEA is believed to have high potential and multiple proven plays, between the Prudhoe Bay and Point Thompson discoveries, which are two of the biggest hydrocarbon discoveries in North America.

The company, in a statement, said: “Eni will apply its business model and experience through a fast-track exploration with a short time to market of the potential new discoveries, aimed at generating long-term value for all stakeholders and shareholders.

“Eni has already achieved a prime position in the North Slope of Alaska and this new acquisition will further strengthen its presence in one of most prospective oil-prone areas in the US.”

Prior to the acquisition from Caelus Alaska Exploration, the Italian company owned 109 leases in Alaska and the Gulf of Mexico.

It is also the operator of the Nikaitchuq field with a stake of 100% and has a stake of 30% in the Oooguruk field. Eni’s share in the two offshore oil fields is about 20,000 boed.

The company has been drawing oil from the Nikaitchuq field, located offshore the North Slope of Alaska, since 2011. On the other hand, the Oooguruk field had entered into production in mid-2008.

Overall, the Italian energy giant has stakes across 21 oil and gas fields in the US, out of which it is an operator in 11 fields.