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Eni starts Australian oil production

Oct. 10, 2011 at 9:11 AM   |   Comments

MILAN, Italy, Oct. 10 (UPI) -- Italian energy company Eni announced Monday it started production at an oil field off the coast of Australia that could yield nearly 40,000 bpd.

Eni said it started production at its Kitan oil field, which is between Timor-Leste and Australia.

The field, the energy company stated, is being produced through deep-water wells connected to a floating production storage and offloading vessel that could produce as much as 40,000 barrels of oil per day.

The company added that first production from Kitan started less than four years after it announced the discovery of commercially viable oil reserves there.

The start of production is a sign of Eni's growth strategy in the region, the company said. It has further ambitions offshore Australia and in recent discoveries in Indonesia. The company added it has additional plans to examine the unconventional gas potential in Indonesia and China.

Eni is the operator at Kitan. It operates 15 of the 19 offshore licenses its holds in Australia, Timor-Leste and Papua New Guinea.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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