Eni has been awarded 26 new exploration licenses in the Gulf of Mexico (GoM) after bidding a total of USD 47.8 million at Lease Sale 205 held in New Orleans on 3 October, 2007. The acquisition is subject to approval of local authorities.

All 26 leases are located in Eni’s core exploration areas in GoM’s shelf and deepwater and present opportunities in each of the key GoM play types: amplitude anomaly, subsalt miocene and paleogene.

Eni’s increased Lease Sale activity in the GoM is consistent with the company’s focus in the region and follows the acquisition of Dominion’s offshore GoM assets. It also leverages on Eni’s technical expertise in Houston and the successful integration of Dominion’s former employees with Eni in New Orleans. In addition, by targeting and securing leases close to its existing operations Eni will be able to take advantage of many synergies. The 26 new blocks are estimated to have resource potential of approximately 650 million boe and will complement Eni’s existing GoM exploration portfolio that currently amounts to over 2 billion boe.

Eni currently owns lease interests in 439 GoM blocks, 72% of which are in deepwater and is among the key GoM producers with a daily equity production in excess of 100,000 boe, of which 60% is operated by Eni. In addition, Eni owns lease interests in 158 leases in the North Slope of Alaska.