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Eni acquires 70% stake, operatorship of Oooguruk oil field in Alaska

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Eni acquires 70% stake, operatorship of Oooguruk oil field in Alaska

Italian integrated oil and gas firm Eni SpA announced Jan. 3 it has signed an agreement to acquire a 70% stake in the Oooguruk oil field in Alaska from Caelus Natural Resources Alaska LLC.

The acquisition hikes Eni's stake in the field to 100% and turns over the operatorship. No financial details were disclosed.

The transaction is still subject to government approval and certain closing conditions.

Located in the Beaufort Sea, the Oooguruk oil field has been producing since 2008 and is estimated to have a gross production of 10,000 barrels of oil per day from 25 production wells and 15 gas/water injector wells.

The transaction increases its Alaska production by around 7,000 barrels of oil per day gross, which it targets to hike beyond 30,000 barrels of oil equivalent per day.

Aside from the Oooguruk oil field, Eni has a 100% interest in the Nikaitchuq oil field, which produces 18,000 bbl/d.

Eni acquired an additional 124 exploration leases in the eastern north slope of Alaska in August 2018.