Italy's Eni has high Australian gas hopes

Oct. 24, 2013 at 7:06 AM

MILAN, Italy, Oct. 24 (UPI) -- Italian energy company Eni said Thursday it completed exploration work at a site in Australia expected to hold at least 8 trillion cubic feet of natural gas.

The company said Thursday it completed work at its Evans Shoal North-1 appraisal well in the shallow waters of the Timor Sea.

"Eni estimates that the Evans Shoal gas field contains at least 8 trillion cubic feet of raw gas in place," the company said in a statement. "Eni remains committed to fast track development of the significant and known resources in this exploration area."

Eni said it produced 30 million cubic feet of natural gas during a production test.

The Italian energy company operates the Evans Shoal North prospect on behalf of a consortium including Royal Dutch Shell, Petronas Carigali and Osaka Gas Australia Pty Ltd.

The Sydney Morning Herald in June reported Australia may be one of the region's premier natural gas producers. Several of the world's largest energy companies are working there to produce energy for their Asian counterparts, which have secured long-term supply agreements.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Hess completes Bakken joint venture
Brazil orders search-and-rescue aircraft
Whole Foods apologizes for overcharging customers
BP settles with U.S. coastal states for $18.7 billion